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Aurobindo Pharma shares shed 4.5% post Q1 earnings

Aurobindo Pharma shares shed 4.5% post Q1 earnings

Aurobindo Pharma shares shed 4.5% post Q1 earnings
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By Ankit Gohel  Aug 13, 2020 11:35 AM IST (Published)

Aurobindo Pharma share price dropped over 4.5 percent in early trade on Thursday despite the pharma company posting decent earnings for the first quarter of FY21.

Aurobindo Pharma share price dropped over 4.5 percent in early trade on Thursday despite the pharma company posting decent earnings for the first quarter of FY21. At 11.29 am, the shares traded 3.87 percent lower at Rs 897.20 on the NSE. The stock price fell over 4.5 percent to hit an intraday low of Rs 890 apiece.

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The stock has been losing for the last three days, correcting almost 5 percent in the period. Aurobindo Pharma stock price has risen over 66 percent in the last six months while the nine-month return has been over 100 percent.
The company’s consolidated net profit in Q1FY21 rose 22.8 percent to Rs 780.7 crore from Rs 635.7 crore in the year-ago period.
Revenue from operations during the quarter increased by 8.8 percent to Rs 5,924.8 crore from 5,444.6 crore, YoY. US formulation business showing a 15.6 percent growth at Rs 3,107.1 crore YoY.
US formulation revenue registered a growth of 15.6 percent year-on-year at Rs 3,107.1 crore as against Rs 2,688.4 crore, accounting for 52.4 percent of the consolidated revenue, the company said.
Revenue from the antiretroviral (ARV) segment jumped 33.6 percent to Rs 425.5 crore while Active pharmaceutical ingredient (API) revenue rose 6.5 percent to Rs 780.2 crore, YoY.
“Amid challenging times, we have started the financial year by reporting a healthy performance,” said Aurobindo Pharma Managing Director N Govindarajan.
EBITDA rose 9.7 percent to Rs 1,257.4 crore from Rs 1,146.4 crore while EBITDA margin increased to 21.2 percent from 21.1 percent, YoY.
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