Financial Daily from THE HINDU group of publications
Sunday, Jul 31, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 31, 2005 |
|
|
|
|
|
|
|
Corporate Results
-
Pharmaceuticals Aurobindo Pharma Q1 net plunges 89 pc Our Bureau
Hyderabad , July 30 AUROBINDO Pharma Ltd has suffered a major fall of 88.84 per cent in net profit for the first quarter ended June 2005. Though it managed to maintain the turnover at nearly the same level, the company attributed the drop in profit to the value-added tax (VAT) regime. As per the unaudited financial results for the quarter, the company posted a turnover of Rs 284.24 crore, against Rs 287.29 crore in the corresponding quarter of the previous fiscal. The net profit dipped to Rs 2.01 crore from Rs 18.02 crore. This resulted in a poor EPS of Rs 0.39 (Rs 3.55) on an equity base of Rs 25.38 crore. In a press release here on Saturday, the Aurobindo Pharma Managing Director, Mr K. Nityananda Reddy, said sales and profitability were lower during the quarter "primarily on account of a delayed revival in domestic markets and the pressure due to accumulated stocks in the market as a fallout of VAT." For the quarter under review, the company incurred an increased expenditure of Rs 257.61 crore (Rs 245.25 crore) and posted a significantly lower PBIDT of Rs 26.63 crore (Rs 42.04 crore). The company made increased provisions towards interest at Rs 13.44 crore (Rs 7.36 crore) and depreciation at Rs 11.87 crore (Rs 10.98 crore), leading to a profit before taxation of Rs 1.32 crore (Rs 23.7 crore). During the fiscal 2004-05, Aurobindo Pharma posted a net profit of Rs 35.07 crore on a turnover of Rs 1,175.73 crore, yielding an EPS of Rs 6.91 with huge reserves of Rs 763.2 crore.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|