Aurobindo Pharma Ltd.’s profit declined in the quarter ended March, falling short of analyst estimates.
Net profit of the Hyderabad-based company fell 0.7 percent to Rs 528.5 crore as compared to the same quarter last year, the drugmaker said in an exchange filing today. This was below the Bloomberg consensus estimate of Rs 606 crore.
Revenue of the pharmaceutical company rose 11.2 percent to Rs 4,049 crore year-on-year, falling short of Bloomberg analysts’ estimate of Rs 4,187 crore. Earnings before interest and tax rose 11.5 percent to Rs 804 crore quarter-on-quarter, but operating margin expanded 10 basis points to 19.9 percent.
The drugmaker is ramping up investment in differentiated and speciality product portfolio, N Govindarajan, managing director of Aurobindo Pharma said in a separate press release. “Our execution strength and pipeline evolution will drive growth for the future,” he added.
The stock closed 2.1 percent higher at Rs 606.5 on the BSE ahead of the earnings announcement. Shares fell 18.9 percent during the January to March period, compared to a 13.1 percent decline in the NSE Nifty Pharma Index.
- U.S. formulation sales rose 5.8 percent growth to Rs 1,738.8 crore year-on-year.
- Europe formulation sales witnessed growth of 48.2 percent to Rs 1,151.6 crore.
- Growth markets sales saw a 6.4 percent increase to Rs 209.6 crore.
- API sales grew 4.8 percent to Rs 799.6 crore from the same quarter last year.
- Anti-retroviral sales stood at Rs 148.6 crore from Rs 261.9 crore in the same quarter last year.