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.