Hyderabad, July 01: The net profit of Aurobindo Pharma has crossed the Rs 100 crore mark for the financial year ended March 2003. On net sales of Rs 1,190.58 crore, Aurobindo net Rs 103.14 crore for FY03. The board of directors has declared a dividend of 35%, subject to the approval of its shareholders at the AGM.
The company’s exports amounted to Rs 579.3 crore, comprising 49% of total sales. The net worth of Aurobindo currently stands at Rs 535.53 crore (Rs 361.77 crore), according to the company’s press release issued here on Monday.
“The two active pharma ingredient (API) hubs and two formulation hubs are geared up for approvals from regulated markets. The green field API project at Visakhapatnam and the revamped unit at Hyderabad shall be the backbone of Aurobindo with global scale of manufacturing,” the release said. In a bid to become an R&D-led pharma company with presence in regulated and semi-regulated markets, Aurobindo’s R&D has achieved important breakthroughs by obtaining patents and filing several process/product patents, the release said.
Bureau Report