Leading drug maker of the country, Aurobindo Pharma has informed that there has been a huge decline in its net profit figure. It has declared its first quarter financial results for the financial year 2010-11.

The company has posted a net profit of Rs 51.50 crore for the June quarter of the year which is almost 69.08% decline from the net profit registered by the same company a year ago in the similar fiscal year. However, there has been a hike in the net sales of the company in this Q1.

So far as the net sales of the firm are concerned, it has gone up to Rs 922.25 crore during the April-June period of fiscal year 2010. It has Rs 852.75 crore in the corresponding quarter in the fiscal 2009-10. This has been informed by firm in a statement.

Chairman of Aurobindo Pharma, Mr. Ramprasad Reddy has informed that the profitability of the firm was affected by the overheads of the newly operationalized facilities in the quarter under review.