Aurobindo tastes bitter

about 6 months ago
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Aurobindo Pharma yesterday late evening announced a four-times jump in consolidated net profit at Rs.2946 crore and this was purely on the back of exceptional gains.  

The one-time gain was Rs.2814 crore which was on account of selling off its wholly owned subsidiary, Natrol on account of remeasurement of equity interest in Eugia Pharma Specialties Ltd and impairment charges taken considering the difficult economic conditions and the continued impact of COVID 19 in certain markets towards product-related intangibles and goodwill.

But for this exceptional gain, the rise in net profit would have been 17% at Rs.837 crore.

Its consolidated net revenue rose 8% (YoY) to Rs.6365 crore. EBITDA was up 13% at Rs.1369 crore and margins were up from 20.5% to 21.5%.

Its spend on R&D during the quarter was at Rs.390.5 crore, 6% of revenues

The company has received final approval for 13 ANDAs from USFDA including 9 injectables.

The Board has approved third interim dividend @ 150% i.e., Rs. 1.5/share (FV of Re.1) for FY21.

The stock is not doing too well on the bourses, going down over 3.5% to Rs.933. Its 10% LC of the day is at Rs.871.10 and 52-week high is at Rs.1023.10.

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