Aurobindo Pharma reported a nearly 80% year-on-year enhance in consolidated net profit at ₹907.35 crore for the quarter ended March, on the back of a 21% growth in pharmaceutical revenues, while maintaining its lively pharmaceutical ingredients (API) share.
Total revenue from operations increased by 17% to ₹ 7,580.15 crore (₹ 6,472.96 crore). In the financial year ended March, the drugmaker reported an over 64% enhance in consolidated net profit to ₹ 3,168.97 crore (₹ 1,927.65 crore). Revenue from operations in 2023-24 increased by almost 17% to ₹29,001.87 crore (₹24,855.38 crore).
“I am extremely pleased to report forceful results for the quarter and year, supported by expansion into recent markets, product launches and stable pricing. Better utilization of our production capacity has led to higher operational efficiency,” Vice President and Managing Director K. Nithyananda Reddy said in a statement.
The company is confident that it will continue its development in the coming year, while stabilizing the operations of recently commercialized facilities, he added.
In the fourth quarter, US formulation revenue (excluding Puerto Rico) increased 21.6% year-on-year to PLN 3,588 crore (USD 432 million), while in Europe it increased 10.4% to PLN 1,832 crore (EUR 203 million). and in developing markets. rose 49.5% to ₹852 crore ($103 million).
ARV revenues grew 31.5% to ₹238 crore ($29 million). API revenue remained unchanged at ₹ 1,019 crore ($123 million), Aurobindo Pharma said in a statement.
US FDA OAI for subsidiary factory
Separately in a filing, Aurobindo Pharma said the US Food and Drug Administration (US FDA) had assessed the status of the inspection as official action. Indicated (OAI).
The US FDA inspected the facility (Unit III) from January 22 to February 2. Aurobindo Pharma said the company remains committed to working closely with the regulator and improving compliance on an ongoing basis.
The facility inspection resulted in 9 comments from the US FDA. In a letter submitted after the inspection, the parent company stated that “we will respond to these comments within the prescribed period. The company has decided to temporarily stop production on some lines in order to conduct a complete study and appropriate partial distribution.
OAI is one of three classifications issued by the US FDA after assessing inspection results. OAI means that regulatory and/or administrative action is recommended, while No Action Indicated (NAI) means that no undesirable conditions or practices were detected during the inspection. A voluntary action indicated (VAI) means that undesirable conditions or practices have been detected but the agency is not prepared to take or recommend any administrative or regulatory action.
