Shares of the pharmaceutical company closed on Friday at Rs 488 each on BSE.
Hyderabad:
Aurobindo Pharma recorded a 41 percent drop in its net profit to Rs 409 crore in the quarter ended September from Rs 697 crore in the same period a year ago.
The pharmaceutical company’s net income fell 3.4 percent to Rs 5,739 crore from Rs 5,941 crore in the same period last year.
The company’s net EBITDA fell 33 percent to Rs 790 crore from Rs 1,186 crore in the same period a year ago.
Aurobindo Pharma Vice Chairman and Chief Executive Officer K Nithyananda Reddy said the company’s second-quarter performance was mediocre, mainly due to macro-environmental factors and increased competitiveness for some products in the US, according to a statement released Saturday with the stock markets. was shared.
The CMD said the company’s continued focus on biosimilars, research and development, innovation and increasing manufacturing capacity will enhance its product offerings in various markets. He said: “We are confident that the right measures and growth-led strategies will help improve our profitability and margins in the medium to long term.”
Shares of the pharmaceutical company closed on Friday at Rs 488 each on BSE.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)
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