Aurobindo Pharma Ltd., posted a 24 percent profit growth in the first quarter of financial year 2016-17, beating street estimates.
The pharmaceutical manufacturer’s net profit for the April-June period grew to Rs 585 crore from Rs 472.5 crore in the corresponding period of the previous year. The consensus of analyst estimates tracked by Bloomberg stood slightly lower at Rs 582 crore.
Revenue for the June ended quarter was up by 13 percent to Rs 3,726 crore from 3,242.3 crore in the same quarter last year. The Bloomberg consensus estimate was Rs 3,855.6 crore.
Earnings before interest, taxes, depreciation and amortisation increased 22.6 percent to Rs 889 crore from Rs 725 crore year-on-year. The EBITDA margin expanded by almost 190 basis points to 23.9 percent from 22 percent.