Aurobindo Pharma Sees Profits Surge by 61% in Q1 2024

Aurobindo Pharma reported a 61% increase in consolidated net profit, reaching Rs 919 crore for the first quarter ending June 2024. The Hyderabad-based company's revenue from operations rose to Rs 7,567 crore, driven by strong sales and improved operational efficiencies.

Aurobindo Pharma on Saturday announced a significant 61 per cent year-on-year increase in its consolidated net profit, reaching Rs 919 crore for the first quarter ending June 2024. This performance was bolstered by robust sales across various markets.

The Hyderabad-based pharmaceutical giant had reported a net profit of Rs 571 crore in the April-June quarter of last fiscal year. In addition, revenue from operations grew to Rs 7,567 crore, up from Rs 6,851 crore in the same period last year, according to a company statement.

Vice-Chairman and Managing Director K Nithyananda Reddy expressed satisfaction with the company's ongoing strong performance, attributing the profitability to improved gross margins, operational efficiencies, and the ramping up of recently commercialised plants. ''We are confident in our ability to achieve our growth targets for FY25,'' Reddy added.

(With inputs from agencies.)