Aurobindo Pharma has posted a decline of 41 per cent in its net profit to Rs 409 crore in the quarter ended September against Rs 697 crore in the year-ago period.
The pharmaceutical firm's net revenue went down 3.4 per cent to Rs 5,739 crore against Rs 5,941 crore in the corresponding period the previous year.Net Ebitda of the company went down 33 per cent to Rs 790 crore against Rs 1,186 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, according to a statement shared with stock exchanges on Saturday.
The CMD said the company's continued focus on biosimilars, research and development, innovation and increasing manufacturing capacity will enhance its product offerings in various markets. He said, "We are confident that, the right measures and growth-led strategies will help improve our profitability and margins over the medium to long term."
The shares of the pharma closed at Rs 488 apiece on Friday on BSE.
( With inputs from ANI )
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