Aurobindo Pharma's Net Profit Jumps 61%
Strong Sales and Cost Control Drive Growth
Key Highlights:
- Q1 consolidated net profit rises to ₹919 crore
- 61% year-on-year growth compared to Q1FY23
- Revenue increases by 14.5% to ₹6,279 crore
Hyderabad, August 10, 2024: Aurobindo Pharma, a leading pharmaceutical company, reported a significant increase in its consolidated net profit for the first quarter (Q1) of fiscal year 2023-24 (Q1FY24).
The company's consolidated net profit rose by 61% year-on-year to ₹919 crore, compared to ₹569 crore reported in Q1FY23. This growth was primarily driven by a 14.5% increase in revenue, which reached ₹6,279 crore during the quarter.
Aurobindo Pharma's strong performance was attributed to several factors, including increased sales in key markets such as the United States and Europe, as well as cost-cutting measures implemented by the company. The company's North America business, in particular, saw strong growth during the quarter.
Analysts noted that Aurobindo Pharma's results were particularly impressive considering the ongoing challenges in the pharmaceutical industry, such as pricing pressures and supply chain disruptions.
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