Aurobindo Pharma in good shape
By
Research Desk
about 10 years ago
Aurobindo Pharma is the top gainer on the BSE since the opening bell. The stock hit an intra day high at Rs.777.50 and currently remains over 5% up at Rs.773 levels.
The market is extremely enthused with the company’s Q1FY17 performance. On a 13% (YoY) rise in net profit, the company posted a 24% rise in net profit at Rs.585 crore. The pharma major earnings was helped by a 16% rise in formulations at Rs.3032 crore while API business showed a 2% increase in revenue at Rs.734 crore.
The company’s EBITA showed a 23% rise at Rs.889 crore while margins rose from 22% to 24%. This very good show was despite a forex loss of Rs.7 crore and 46% drop in other income and 23% increase in tax outgo.