India's Aurobindo Pharma posts quarterly profit rise on anti-retroviral drug demand
India's Aurobindo Pharma posts quarterly profit rise on anti-retroviral drug demand Aug 5 (Reuters) - Indian drugmaker Aurobindo Pharma ARBN.NS 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)
((Kashish.Tandon@thomsonreuters.com; 8800437922;))
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