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HomeMarketStocksAurobindo Pharma Q2 results: Net profit drops 41% to Rs 409 crore

Aurobindo Pharma Q2 results: Net profit drops 41% to Rs 409 crore

New Delhi: Aurobindo Pharma on Saturday reported a 41 per cent decline in its consolidated net profit at Rs 409 crore for the second quarter ended September 30, 2022. The Hyderabad-based drug agency had posted a internet revenue of Rs 697 crore within the July-September interval of final fiscal.

Revenue from operations additionally declined to Rs 5,739 crore within the September quarter as in opposition to Rs 5,942 crore within the year-ago interval.

Vice-Chairman and Managing Director K Nithyananda Reddy mentioned the corporate’s second quarter efficiency was subdued, primarily as a result of macro-environment elements and better aggressive depth for some merchandise within the US.

“Nevertheless, we’re assured that our sturdy pipeline of recent merchandise will present impetus to the longer term progress trajectory,” he added.

Reddy famous that firm’s continued concentrate on biosimilars, R&D, innovation and rising manufacturing capability will improve its product choices in numerous markets.

“We’re assured that, the suitable measures and growth-led methods will assist enhance our profitability and margins over the medium to long run,” he added.

The drug agency reported 11 per cent year-on-year dip in US formulations income to Rs 2,638 crore. PTI MSS ABM ABM

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