Aurobindo Pharma Ltd reports Q3 FY2023-24 results

Aurobindo Pharma Limited (BSE: 524804 and NSE: AUROPHARMA) ("Aurobindo") today announced its consolidated financial results for the quarter ended December 31, 2023.

Key highlights of Q3FY24

- Revenue from Operations increased by 14.7% YoY to INR 7,352 Cr with growth seen across multiple businesses

- US formulations (excluding Puerto Rico) revenue increased by 28.9% YoY to INR 3,756 Cr (USD 451 million)

- Europe formulation revenue increased by 1.6% YoY to INR 1,728 Cr (EUR 193 million)

- Growth Markets revenue increased by 25.6% YoY to INR 627 Cr (USD 75 million)

- ARV revenue decreased by 28.6% YoY to INR 179 Cr (USD 22 million)

- API revenue grew by 7.1% YoY to INR 1,022 Cr (USD 123 million)

- EBITDA before Forex and Other income stood at INR 1,601 Cr; EBITDA margin of 21.8 %

- Research & Development (R&D) spend stood at INR 398 Cr, 5.4% of revenues (vs. Q2 FY24: 4.2%)

- Received final approval for 16 ANDAs including 7 specialty & injectable products from the USFDA

- Net Profit after Share of Profit/Loss of JV and minority interest at INR 936 Cr, vs. INR 491 Cr in Q3FY23

- Basic & Diluted EPS grew by 91.4% YoY to INR 16.04 per share

- Board has approved interim dividend @ 150% i.e. INR 1.5 per equity share of INR 1/- for the year FY23-24

Commenting on the Company's performance, Mr. K. Nithyananda Reddy, Vice-Chairman and Managing Director of the Company said: "We are very pleased with the considerable progress we have made in our operations, and the cost efficiencies we have achieved, this quarter's highest ever sales and EBITDA reflect the same. With our continued focus on developing a strong pipeline and driving the commercialization of our key projects, we are confident of our growth trajectory in the months ahead."

Shares of Aurobindo Pharma Limited was last trading in BSE at Rs. 1002.00 as compared to the previous close of Rs. 1002.80. The total number of shares traded during the day was 132710 in over 7769 trades.

The stock hit an intraday high of Rs. 1021.65 and intraday low of 977.95. The net turnover during the day was Rs. 132937309.00.

Source : Equity Bulls

Keywords

AurobindoPharma INE406A01037 Q3FY24 9MFY24 ResultUpdate