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Shares of Aurobindo Pharma has dipped 4% at Rs 1,065, extending its past four day’s fall, after reporting a 7.93% decline in its consolidated net profit at Rs 384 crore for the third quarter ended December 31, 2014 (Q3), due to higher raw material cost and other expenditure.
The pharmaceutical company had posted a net profit of Rs 417 crore in the same period last fiscal.
Revenue however grew 48% at Rs 3,166 crore on yoy basis.
The EBITDA during the quarter has declined by 10.8% on Y-o-Y basis due to increase in materials consumption, staff costs other expenses to net operating income by 6.7%, 1.7% and 2.4% respectively, Aurobindo Pharma said in a statement.
Meanwhile, Surajit Pal analyst at Prabhudas Lilladher maintains ‘buy’ rating on the stock and retain target price of Rs 1,308.
“With a large portfolio of injectable overdue for approvals, we expect the company’s revenues to increase at a CAGR of 16?18% in FY15E?18E once these approvals are received,” said analyst in a report dated February 6, 2015.
The stock opened at Rs 1,097 and hit a low of Rs 1,057 on NSE. In past one week, the stock declined 16% from Rs 1,264, as compared to 2.5% decline in benchmark CNX Nifty.
The pharmaceutical company had posted a net profit of Rs 417 crore in the same period last fiscal.
Revenue however grew 48% at Rs 3,166 crore on yoy basis.
The EBITDA during the quarter has declined by 10.8% on Y-o-Y basis due to increase in materials consumption, staff costs other expenses to net operating income by 6.7%, 1.7% and 2.4% respectively, Aurobindo Pharma said in a statement.
Meanwhile, Surajit Pal analyst at Prabhudas Lilladher maintains ‘buy’ rating on the stock and retain target price of Rs 1,308.
“With a large portfolio of injectable overdue for approvals, we expect the company’s revenues to increase at a CAGR of 16?18% in FY15E?18E once these approvals are received,” said analyst in a report dated February 6, 2015.
The stock opened at Rs 1,097 and hit a low of Rs 1,057 on NSE. In past one week, the stock declined 16% from Rs 1,264, as compared to 2.5% decline in benchmark CNX Nifty.
