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.
See LIVE updates of stock price of Aurobindo Pharma here-
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.