Aurobindo Pharma Q1 Result: Profit Rises, In Line With Estimates

Aurobindo Pharma Ltd.'s first-quarter profit increased, meeting analysts' estimates.

The Hyderabad-based bulk and generic drug maker's net profit jumped 61% year-on-year to Rs 918 crore in the quarter ended June 30, 2024, according to an exchange filing. That compares with the Rs 941-crore consensus estimate of analysts tracked by Bloomberg.

• Revenue up 10% at Rs 7,567 crore vs Rs 6,851 crore (Bloomberg estimate: Rs 7,580 crore).

• Ebitda up 40% at Rs 1,619 crore vs Rs 1,153 crore (Bloomberg estimate: Rs 1,617 crore).

• Ebitda margin at 21.4% vs 16.8% (Bloomberg estimate: 21.30%).

• Net profit up 61% at Rs 918 crore vs Rs 570 crore (Bloomberg estimate: Rs 941 crore).

• Revenue from operations increased by 10.5% year-on-year to Rs 7,567 crore with growth across the businesses.

• US formulations, excluding Puerto Rico (its wholly owned subsidiary), revenue increased by 13.3% year on year to Rs 3,555 crore ($426 million).

• Europe formulations revenue increased by 7.9% year on year to Rs 1,982 crore (221 million euros).

• Growth markets revenue increased by 49.2% year on year to Rs 709 crore ($85 million).

• Antiretroviral revenue increased by 13.9% year on year to Rs 229 crore ($27 million).

• API revenue grew by 5.6% year on year to Rs 1,092 crore ($131 million).

• Research and development spend was Rs 339 crore, 4.5% of revenues.

Shares of Aurobindo Pharma closed 2.52% lower on Friday a day before the results were announced, compared to a 1.04% rise in the benchmark Nifty.