Aug 5 (Reuters) – Indian drugmaker Aurobindo Pharma reported a 25.2% rise in quarterly profit on Wednesday, driven by steady domestic demand, especially for its anti-retroviral drugs used to treat HIV infections.
Here are more details:
• Consolidated net profit after tax rose to 10.33 billion rupees ($108.60 million) in the quarter ended June 30, from 8.25 billion rupees a year ago.
• The company benefited from strong demand for its drugs, particularly anti-retrovirals for HIV infections, in India, one of its largest market.
• That strength offset weaker pricing amid stiff competition in North America, which contributed 41.2% of total consolidated revenue.
• “While the global operating environment remains dynamic, our resilient business model, expanding capabilities, and strategic investments position us well to achieve our long-term growth objectives,” Managing Director K. Nithyananda Reddy said.
• Overall revenue rose 16.3% to 91.50 billion rupees, while total expenses increased 16.1%.
($1 = 95.1175 Indian rupees)
(Reporting by Kashish Tandon and Abhinav Parmar in Bengaluru; Editing by Tasim Zahid)
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