Aurobindo Pharma, VIP Industries slump post Q3FY19 numbers

Shares of Aurobindo Pharma dropped despite reporting upbeat numbers.

Feb 08, 2019 10:02 IST India Infoline News Service

Shares of Aurobindo Pharma slumped 2%, while those of VIP Industries plunged 5% on Friday post their respective earnings numbers for the third quarter of FY19.

Shares of Aurobindo Pharma dropped despite reporting upbeat numbers. 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. We had expected revenue/EBITDA/PAT of Rs4,842cr/Rs1,050cr/Rs664cr in Q3FY19, hence the result is above our expectations.

Aurobindo Pharma Ltd's share price is currently at Rs761, down by Rs17.75 or 2.28%, from its previous close of Rs778.75 on the BSE.

However, VIP Industries reported a disappointing set of numbers for Q3FY19 on EBITDA and PAT fronts. The consolidated revenue for the quarter grew by 27.2% yoy and 7% qoq to Rs430cr. EBITDA came in at Rs38cr, down 8.2% yoy and down 26% qoq. EBITDA margin contracted by 339bps yoy and 392bps qoq to 8.8%. Consolidated PAT for the quarter declined by 11.4% yoy and by 27.4% qoq to Rs24cr.

VIP Industries Ltd's share price is currently at Rs490, down by Rs24.75 or 4.81%, from its previous close of Rs514.75 on the BSE.

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