Aurobindo Pharma Q1 profit dips 11% at Rs 518 cr on low US sales, GST

Aurobindo maintained growth momentum in Europe by registering a 10.4% rise in formulations

Hyderabad-based Aurobindo Pharma Limited has reported an 11.4 per cent decline in consolidated net profit at Rs 518.5 crore for the quarter ended June 2017, in the absence of growth from formulations business during the period.

The revenues from operations that include both the formulations and active pharmaceutical ingredients (API) segments has decreased 2.3 per cent to Rs 3,678.7 crore for the quarter under review as compared to Rs 3,766.6 crore in the corresponding quarter previous year.

For the first time in recent quarters, the company's formulations business in the US slowed down during the quarter. Despite the