Drugmaker Aurobindo Pharma reported an 80% decline in consolidated net profit to ₹604.29 crore for the quarter ended December compared with a year earlier“The quarter’s performance was impacted by high input and freight costs that weighed on profitability,” vice-chairman and MD K. Nithyananda Reddy said on Wednesday. Revenue from operations dipped 6% to ₹6,002 crore . The company declared an interim dividend, the third for the fiscal, of ₹1.50 per share of ₹1.
In a release on the results, Mr. Reddy said the impact of high input and freight costs notwithstanding, “our business was resilient in delivering steady revenues, led by the API business benefitting from improved demand for our key products. We remain committed to resolve the regulatory issues affecting some of our facilities and are continuing to make steady progress in our complex generic product development plans.”
In an intimation to the stock exchanges on the board meeting, Aurobindo Pharma said the company intended to explore an entry strategy in the Indian branded formulations market and other allied healthcare opportunities “either organically and/or inorganically and build a formidable business in this segment.”
