Shares of the pharmaceutical company closed at Rs 488 on the BSE on Friday.
Hyderabad:
Aurobindo Pharma reported a 41 per cent decline in its net profit at Rs 409 crore for the quarter ended September from Rs 697 crore in the year-ago period.
The pharmaceutical firm’s net revenue declined by 3.4 per cent to Rs 5,739 crore as against Rs 5,941 crore in the same period last year.
The company’s net Ebitda declined 33 per cent to Rs 790 crore as against Rs 1,186 crore in the year-ago period.
According to a statement shared with the stock exchanges on Saturday, K Nityanand Reddy, vice-chairman and managing director of Aurobindo Pharma, said the company’s Q2 performance was mainly driven by macro-environmental factors and higher demand for certain products in the US. Because of the competitive intensity.
The company’s continued focus on biosimilars, research and development, innovation and increasing manufacturing capability will enhance its product offering in various markets, the CMD said. “We are confident that the right measures and growth-led strategies will help us improve our profitability and margins over the medium to long term,” he added.
Shares of the pharmaceutical company closed at Rs 488 on the BSE on Friday.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicate feed.)
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