Aurobindo Pharma zooms ~2% on clocking 10% y-o-y growth in Q1 net profit

14 Aug 2023 , 11:33 AM

Aurobindo Pharma announced on Saturday that its consolidated net profit climbed 10% y-o-y to Rs 571 crore in the first quarter ended June 30, 2023, owing to strong sales across regions.

At around 11.25 AM, Aurobindo Pharma was trading 2.28% higher at Rs 882.80, against the previous close of Rs 863.15 on NSE. The counter touched an intraday high of Rs 882.80. 

In April-June 2023-24, the pharmaceutical company declared a net profit of Rs 520.5 crore. The Hyderabad-based company said in a statement that revenue from operations increased to Rs 6,850.5 crore in Q1FY24 from Rs 6,236 crore the previous corresponding quarter.

With the product pipeline progressing and growth drivers being implemented as planned, the firm is confident that its fundamental strengths position it to establish an upward trajectory, according to Vice-Chairman and Managing Director K Nithyananda Reddy.

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