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  1. Aurobindo Pharma surges 7% on reporting 24% rise in Q1 consolidated net profit

Aurobindo Pharma surges 7% on reporting 24% rise in Q1 consolidated net profit

Aurobindo Pharma shares gained nearly 7 per cent on Wednesday after the drug firm posted a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for quarter ended June 30, 2016

By: | New Delhi | Updated: August 24, 2016 5:12 PM
aurobindo pharma bse sensex nse nifty Aurobindo Pharma shares gained nearly 7 per cent on Wednesday after the drug firm posted a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for quarter ended June 30, 2016 (Reuters)

Aurobindo Pharma shares gained nearly 7 per cent on Wednesday after the drug firm posted a 23.81 per cent increase in consolidated net profit at Rs 584.96 crore for quarter ended June 30, 2016 against Rs 472.45 crore in the corresponding quarter a year ago. Consolidated total income from operations of the company increased by 12.94 per cent to Rs 3,725.90 crore for the quarter under review against Rs 3,298.93 crore in the same quarter last year.

Shares of Aurobindo Pharma closed 6.96 per cent up at Rs 787.55. The scrip opened the day at Rs 765 and touched a high and low of Rs 789.80 and Rs 751.30, respectively, in trade. Benchmark BSE Sensex closed 69.73 points up at 28,059.94.

Standalone net profit of Aurobindo Pharma slid marginally by 3.69 per cent year-on-year to Rs 391.03 crore during April-June period against Rs 406.02 crore in the same quarter last year. Revenue grew by 7.66 per cent year-on-year to Rs 2,389.76 crore.

Commenting on the results, Aurobindo Pharma N Govindarajan, managing director, Aurobindo Pharma said: “The quarter started with a double digit growth year on year on the back of overall business performance. With focus on execution and capability enhancements we continue to progress on specialty generics for a sustained long term growth.

In the past one year, shares of the pharma company jumped by 3.31 per cent to Rs 736.30 till August 23, whereas Sensex jumped 8.74 per cent during the same period.

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