| Aurobindo Pharma Ltd. has reported excellent results for the
quarter ended 30th June 2002. The Total Income for the quarter stood at Rs.25042 lacs
(Rs. 18996 lacs), an increase of 32% over the corresponding period in the previous year. The Profit before Depreciation, Interest and Tax for the quarter stood
at Rs.3692 lacs (Rs.2693 lacs).After providing Rs.1280 lacs (Rs.1101 lacs) for Interest,
Rs.393 lacs (Rs.365 lacs) for Depreciation the profit before tax stood at 2019 lacs (1227
lacs) registering a sharp increase of 65%. With a provision of Rs.510 lacs (Rs.100 lacs)
towards tax, the Net Profit stood at Rs.1509 lacs (Rs.1127 lacs), registering a growth of 34%
over the corresponding period in the previous year.
Export sales in the first quarter at Rs.11633 lacs registered a
40% growth over the corresponding period in the previous year. Domestic sales in the first
quarter grew by 23% to Rs.13091 lacs. |
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| Aurobindo has invested around Rs.150 cores in the recent
quarters in key projects such as 100% China subsidiary, 100% Brazil subsidiary, 50% joint
venture in USA and the regulatory dmf and back up investments in two manufacturing facilities
at Hyderabad and R&D. These investments are progressing fast but have had an impact on
interest cost of the Company. The Company expects the benefits from these projects to accrue
beginning from the third quarter. Further the benefits of domestic restructuring shall be more
visible on the completion of mega bulk API site at Vizag, which is expected to commence
production in the third quarter of this year. On
completion of these projects in regulated and semi-regulated markets, the company can look
forward to sustained and rapid growth in the long term. Obviously, economies of scale, entry
into regulated markets and product and geographical expansion in semi-regulated markets are
expected to result in a positive impact on both the top line and the bottom line of the
company.The dream of Aurobindo Pharma to become an R&D led world class international
pharmaceutical company is materializing speedily and healthily. |
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