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Aurobindo Pharma’s net profit declined 41 per cent at ₹409 crore in the second quarter ended September 30, 2022 compared to ₹697 crore in the corresponding quarter of the previous financial year.
The total revenue of the Hyderabad-based company declined by 3.4 per cent at ₹5,739 crore as against ₹5,941 crore in the year-ago period.
“Our Q2FY23 performance was subdued mainly due to the macro-environment factors and higher competitive intensity for some products in the U.S. However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory,’‘ K Nithyananda Reddy, Vice-Chairman and Managing Director, Aurobindo Pharma said in a release on Saturday.
The Research & Development (R&D) spend of the company was pegged at ₹276 crore, accounting for 4.8 per cent of the revenue. Aurobindo received final approval for 9 Abbreviated New Drug Application (ANDAs) including 5 injectable products from the USFDA during the quarter, the release said.
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