Stocks

Aurobindo Pharma shares rally after robust quarterly earnings

PTI New Delhi | Updated on June 04, 2020 Published on June 04, 2020

Shares of Aurobindo Pharma on Thursday gained over 5 per cent to touch its one-year high level after the company reported a 45 per cent rise in consolidated net profit for the quarter ended March 2020.

The stock jumped 5.37 per cent to a one-year high of Rs 791 on BSE, and surged 5.41 per cent to its 52-week high of Rs 791 on NSE. However, profit taking at higher level pushed back the stock price.

At 11.35 am, the stock was quoted higher by Rs 9 or 1.20%, at 759.50, on the BSE.

The company on Wednesday reported a 45.07 per cent rise in its consolidated net profit to Rs 848.99 crore for the quarter ended March 31, mainly on account of robust formulation sales in all markets.

It had posted a net profit of Rs 585.22 crore for the corresponding period of the previous financial year, Aurobindo Pharma said in a filing to the BSE.

Its consolidated total revenue from operations stood at Rs 6,158.43 crore for the quarter under consideration as against Rs 5,292.20 crore for the corresponding period a year ago, it added.

For the fiscal year ended March this year, the net profit of the company stood at Rs 2,829.51 crore as against Rs 2,364.50 crore for the previous fiscal year, Aurobindo Pharma said.

The company’s consolidated revenue from the operations for the fiscal year ended March 2020 stood at Rs 23,098.50 crore. It was Rs 19,563.55 crore for the year ago fiscal, it added.

Published on June 04, 2020
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