Aurobindo Pharma Q1 net profit down 11% at Rs518 crore
New Delhi: Aurobindo Pharma Ltd on Wednesday reported an 11.38% decline in consolidated net profit at Rs518.33 crore for the first quarter ended 30 June 2017.
The company had posted a net profit of Rs584.90 crore during the same period of the previous fiscal, Aurobindo Pharma said in a BSE filing. Net sales during the quarter under review stood at Rs3,621.07 crore as against Rs3,704.60 crore in the year-ago period, down 2.25%.
Commenting on the result, Aurobindo Pharma managing director N. Govindarajan said, “ We believe the momentum to sustain going forward driven by changing product mix towards complex products. We remain focused on strengthening our existing businesses and developing a differentiated and speciality driven product basket.”
Total expenses during the period remained almost flat at Rs3,004.03 crore as compared to Rs3,004.51 crore in the corresponding quarter of last fiscal. The company’s US sales accounted for Rs1,694.9 crore as against Rs1,703.9 crore in the first quarter of FY17.
It has received final approval for 17 ANDAs and tentative approval for 3 ANDAs during the quarter. The stock closed 5.84% down at Rs684.15 on the BSE.
- Adani Ports Q3 profit up 19.51% at Rs1,001 crore
- Google aims to make artificial intelligence easy to use for companies
- GST rate cut for 29 items and 53 services from 25 January
- South Korea considers shutting down domestic cryptocurrency exchanges
- GST Council discusses making returns filing process simpler