Aurobindo Pharma on Saturday reported a 41 per cent decline in its consolidated net profit at `409 crore for the second quarter ended September 30, 2022.
The Hyderabad-based drug firm had posted a net profit of `697 crore in the July-September period of last fiscal. Revenue from operations also declined to `5,739 crore in the September quarter as against `5,942 crore in the year-ago period.
Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy said the company’s second quarter performance was subdued, mainly due to macro-environment factors and higher competitive intensity for some products in the US.
“However, we are confident that our robust pipeline of new products will provide impetus to the future growth trajectory,” he added. Reddy noted that company’s continued focus on biosimilars, R&D, innovation and increasing manufacturing capacity will enhance its product offerings in various markets.
