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Aurobindo Pharma posted a 41 percent decline in its net profit to Rs 409 crore in the quarter ended September against Rs 697 crore in the year-ago period. The pharmaceutical company’s net income declined by 3.4 percent to Rs 5,739 crore against Rs 5,941 crore in the corresponding period the previous year. Net Ebitda of the company declined 33 per cent to Rs 790 crore against Rs 1,186 crore in the year-ago period. .
Aurobindo Pharma Vice Chairman and Managing Director K Nithyananda Reddy said the company’s second-quarter performance was subdued, mainly due to macro-environmental factors and higher competitive intensity for some products in the US, according to a statement shared with stock exchanges on Saturday. The CMD said the company’s continued focus on biosimilars, research and development, innovation and increasing manufacturing capacity will enhance its product offerings in various markets. He said, “We are confident that the right measures and growth strategies will help improve our profitability and margins in the medium to long term.”
The pharma’s shares closed at Rs 488 apiece on Friday on BSE. (ANI)
(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)
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