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Hyderabad based pharmaceutical company Aurobindo pharma’s profit levels dropped by 12% in the first quarter of financial year 2019 to Rs. 455.59 crore in comparison to Rs. 518 crore of the previous fiscal year’s June-end quarter. The company said in a statement that drop in profit was affected due to certain one-off product related provisions.
The company’s total revenue increased by 16% from Rs. 3700 crore of the previous quarter of fiscal period to Rs. 4249 crore in the quarter under review. Earning before interest tax depreciation and amortization slipped 7.4% from last year’s quarter to Rs. 779 crore.
During the June quarter, the company has launch 14 products along with 4 injectables. The company also stated that they had moved out manufacturing of 94 products from Europe to India as a cost saving mechanism.
