Aurobindo Pharma Ltd. has registered a Total Income of Rs.255.44 crores (Rs.269.92 crores) for the three month period ended 30^th September, 2001.

The Profit before Depreciation, Interest and Tax for the quarter stood at Rs.31.07 crores (Rs.44.85 crores). After providing Rs.9.94 crores (Rs.9.44 crores) towards interest, Rs.4.06 crores (Rs.3.30 crores) towards depreciation, and  Rs.2.71 crores (Rs.7.00 crores) towards provision for taxation, the Net Profit for the quarter stood at Rs.14.54 crores (Rs.25.11 crores).

For the half year period ended on 30^th September, 2001, the Total Income stood at Rs.445.40 crores (Rs.486.02 crores) and  Net Profit at Rs.25.81 crores ( Rs.46.41 crores).

As is well known, Aurobindo Pharma has embarked on a major restructuring and expansion of  its manufacturing facilities which led to closing down of certain units and expansion  of facilities at certain locations as well as upgradation of all facilities to conform to USFDA and other international standards.  This restructuring of facilities has resulted in downtime and consequent loss of production  which has affected the company's top line and bottom line.

The rationalisation of the manufacturing facilities is progressing as per schedule and nearly 75% of the work has been completed. One bulk drug unit and two formulation facilities are ready for MCA audit (expected in November, 2001). The benefits of economies of scale and substantial gains in productivity have already started accruing to the Company and the effect on financial performance will be clearly visible from the third quarter onwards.

Meanwhile, the Company's R&D is successfully commercialising complex chemistry molecules as well as working on  non-infringing  processes.  The joint ventures in USA and China are progressing as per schedule.  Product registrations in various countries for anti-virals and other products are going on full throttle. The domestic formulations business has also progressed well and several new products launched have been well accepted in the market.

It is expected that with higher value added product mix and increased margins, the performance in the second half of the current fiscal will ensure that the EPS for the year is on target at Rs.30.

With bold initiatives in R&D and manufacturing and a string of joint ventures and subsidiaries worldwide, Aurobindo is well on track towards becoming a technology driven international pharma  company.