Aurobindo net dips 1% on ARV sales

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Aurobindo Pharma Ltd. reported fourth-quarter net profit slid less than 1% to ₹528.76 crore from ₹532.22 crore a year earlier.Revenue from operations
Aurobindo Pharma Ltd. reported fourth-quarter net profit slid less than 1% to ₹528.76 crore from ₹532.22 crore a year earlier.
Revenue from operations grew 11.2% to ₹4,049.1 crore. A 43.3% decline in anti-retroviral product portfolio sales to ₹148.6 crore impacted performance.
The company, however, registered sales growth in the formulations business in the U.S., Europe and Growth Markets.
Total formulations, including ARV, grew 12.8% to ₹3,248.6 crore during the quarter.
The company reported a 4.8% increase in the API sales to ₹799.6 crore.
For the full fiscal, net profit grew by over 5% to ₹2,422.92 crore (₹2,301.2 crore), while the total revenue from operations increased by 9.3% at ₹16,499.8 crore (₹15,089.9 crore).
Managing director N. Govindarajan said the company has reported a healthy growth in revenues and profitability in FY18, led by improvement in most of the markets. “We continue to ramp up investment in differentiated and speciality product portfolio. Our execution strength and pipeline evolution will drive growth for the future,” he said.
from The Hindu - Business https://ift.tt/2L3Z8Xb

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