Aurobindo Pharma reports over four-fold rise in Q3 consolidated net; shares jump
Aurobindo Pharma jumped nearly 6 per cent in morning trade on Friday after the drug-maker announced an over four-fold jump in its quarterly consolidated net profit.
The company announced that its consolidated net profit jumped more than 400 per cent to Rs 417 crore in the three months ended December 31, 2013. In the corresponding period of the previous year, the company had pocketed a consolidated net profit of Rs 92 crore.
Total income jumped 36 per cent year-on-year (yoy) to Rs 2,144 crore, from Rs 1,576 crore in the sale three-month period of the previous year. Expenditure climbed 14.64 per cent, from Rs 1,372 crore to Rs 1,573 crore.
The growth was driven by a healthy and improved product mix as well as rise in sale of high margin products. The company's the U. S. formulations grew 81.4 per cent year-on-year in the quarter under review, while the ARV and EU formulation sales grew 25.4 per cent and 36.6 per cent, respectively.
The company's operating profit before forex (EBIDTA) jumped 148 per cent, from Rs 259 crore to Rs 643 crore. Active pharmaceutical ingredients (API) sales increased 13 per cent year-on-year to Rs 744 crore.
At 09:20 a. m. today, Aurobindo Pharma shares were trading 5.8 per cent higher at Rs 522.20 apiece.