Aurobindo Pharma Q1 profit slips 12% to ₹455 crore, misses estimates
Aurobindo Pharma’s net profit was ₹455 crore in the first quarter ended 30 June, compared with ₹518 crore a year earlier
New Delhi: Drug firm Aurobindo Pharma on Thursday reported a 12.10% decline in its consolidated net profit to ₹455.59 crore for the first quarter ended 30 June, mainly on account of rise in expenses. The company had posted a net profit of ₹518.33 crore in the corresponding period previous fiscal, Aurobindo Pharma said in a BSE filing.
The company’s revenue from operations stood at ₹4,250.27 crore for the quarter under consideration. It was ₹3,678.75 crore for the year-ago period. Total expenses of the company for the first quarter were ₹3,723.28 crore, compared to ₹2,992.86 crore in the same period last fiscal.
“We have achieved 16% growth in revenues led by a healthy growth across key geographies and segments,” Aurobindo Pharma MD N. Govindarajan said. However, profitability was impacted largely due to certain one-off product related provisions, he added.
“With consistent focus on execution and enhancement of capabilities, we have started filing dermatology ANDAs (abbreviated new drug applications) and is on track in other speciality segments,” Govindarajan said.
Shares of Aurobindo Pharma today closed at ₹600.90 per scrip on BSE, down 1.72% from previous close.
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