Aurobindo Pharma shares up over 6% on strong Q1 earnings
The shares of Aurobindo Pharma were trading over 6% on the BSE on Wednesday a day after the company reported a 23.81% growth in its consolidated net profit at Rs 584.96 crore for the quarter-ended June 30, 2016.
In early trade, the company's shares were up 5.6% at Rs 777.50 on the BSE. At 1420 hours, the company's stock had risen beyond 6%. At Rs 783.75, it was up Rs 47.45 or 6.44% higher from its previous day's close.
Aurobindo Pharma posted a net profit of Rs 584.96 crore in the previous quarter, compared to the Rs 472.45 crore posted in the same period last year.
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The company's total income from operations during the quarter under review increased by 12.94% to Rs 3,725.90 crore as against Rs 3,298.93 crore in the same quarter of last fiscal.
“The quarter started with a double-digit growth year-on-year on the back of overall business performance. With focus on execution and capability enhancements we continue to progress on specialty generics for a sustained long-term growth,” Aurobindo Pharma managing director N Govindarajan said in a statement.