Aurobindo Pharma fell 1.52% to Rs 607.40 at 09:16 IST on BSE after the company announced muted Q3 result after market hours yesterday, 7 February 2018.
Meanwhile, the S&P BSE Sensex was up 75.44 points or 0.22% at 34,158.15.
On the BSE, 18,000 shares were traded on the counter so far as against the average daily volumes of 1.76 lakh shares in the past one quarter. The stock had hit a high of Rs 620.05 and a low of Rs 607.25 so far during the day. The stock had hit a 52-week high of Rs 808.95 on 7 November 2017 and a 52-week low of Rs 504 on 29 May 2017.
The large-cap company has equity capital of Rs 58.59 crore. Face value per share is Re 1.
Aurobindo Pharma's consolidated net profit rose 2.8% to Rs 595.01 crore on 11% growth in net sales to Rs 4268.99 crore in Q3 December 2017 over Q3 December 2016.
Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 23.7% in Q3 December 2017 from 22.9% in Q3 December 2016. EBIDTA before forex and other income rose 14.6% to Rs 1025.6 crore in Q3 December 2017 over Q3 December 2016.
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Aurobindo Pharma said that in the United States of America, The Tax Cuts and Jobs Act of 2017 was approved and enacted into law on 22 December 2017 which has resulted in reduction in federal corporate tax from 35% to 21%. As a result, the company has re-measured its US deferred tax assets and liabilities based on the new tax law and has recognized a one-time charge of Rs 66.4 crore for the quarter.
N. Govindarajan, Managing Director, Aurobindo Pharma, said that all key markets continue to perform well and have shown a healthy growth trend. Considering the one off US tax charge, the profitability is in line with expectations. The company continues to invest in enhancing specialty and complex generics pipeline, for a sustainable growth.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.
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