Aurobindo Q1 profit up 39.5 %

Drug major Aurobindo Pharma reported a 39.5 per cent jump in consolidated net profit to ~635.8 crore for the first quarter of FY20 on the back of strong revenue growth. The firm's net profit stood at ~455.7 crore in Q1 FY19 and ~585.4 crore in the JanuaryMarch, 2019 quarter. Revenues from operations rose 28.1 percent year-on-year to ~5,444.6 crore during the quarter under review from ~4,250.3 crore in the corresponding quarter previous year. On a sequential basis there was a 2.9 per cent increase in revenue, while the net profit growth stood at 8.6 per cent.

The company’s US formulations revenue registered a 42.3 per cent rise at ~2,688.4 crore.