Aurobindo Pharma Ltd's Q3FY19 consolidated net profit rises 19.7% yoy to Rs712.22cr : Beats Estimates

The company’s consolidated revenue stood at Rs5,269.67cr, up 21.53% yoy and 10.91% qoq.

Feb 08, 2019 08:02 IST India Infoline Research Team

Aurobindo Pharma Ltd Q3FY19

Consolidated Results Q3FY19: (Rs. in cr)

Q3FY19 YoY (%)
Revenue 5,269.67 21.5
EBITDA 1,086.38 5.9
EBITDA Margin (%) 20.6 [303]
Net Profit (adjusted) 712.22 19.7
***EBITDA margin change is bps
Aurobindo’s revenue in Q3FY19 grew by 21.5% yoy to Rs5,269.7cr. This was due to improvement in the US, Growth Markets, ARV and non Betalactum business. The US, ARV, growth markets and non-betalactum businesses saw double digit improvement sequentially. EBITDA grew by 5.9% yoy to Rs1,086.4cr in Q3FY19 vs. Rs1,025.6cr in Q3FY18.  EBITDA margins in Q3FY19 stood at 20.6% vs. 20.8% in Q2FY19 and 23.7% in Q3FY18. PAT grew by 19.7% yoy to Rs712.2cr in Q3FY19 vs. Rs594.9cr in Q3FY18. We had expected revenue/EBITDA/PAT of Rs4,842cr/Rs1,050cr/Rs664cr in Q3FY19, hence the result is above our expectations.

Other highlights
  • US formulation sales registered growth of 27.4% yoy to Rs2,433.2cr.
  • Europe formulation grew 10.3% yoy to Rs1,292.8cr.
  • Growth Markets posted a strong growth of 36.1% yoy to Rs340.5cr.
  • ARV sales grew 17.8% yoy to Rs281.3cr.
  • API sales witnessed a healthy growth of 20.4% yoy to Rs921.7cr.
  • Research & Development spend at Rs254.6cr, 4.8% of revenues.
  • The company has filed 10 ANDAs with USFDA including 4 ANDAs for injectable products.
  • Cumulatively, as on 9MFY19, the company has filed 519 ANDAs with USFDA and received approval for 397 ANDAs including 28 tentative approvals.

Technical View:

Aurobindo Pharma Ltd ended at Rs. 774, up by 13.35 points or 1.76% from its previous closing of Rs. 760.65 on the BSE.
The scrip opened at Rs. 762.05 and touched a high and low of Rs. 782.60 and Rs. 760.30 respectively. A total of 22,04,725 (NSE+BSE) shares were traded on the counter. The stock traded below its 100 DMA.

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