Aurobindo Pharma has surged 8% to Rs 174 after reporting a consolidated net profit of Rs 18.6 crore for the quarter ended June 30, 2013 (Q1) against a net loss of Rs 129 crore in the corresponding quarter last fiscal.
The company’s revenues for the quarter increased by 42% at Rs 1,699 crore against Rs 1,197 crore in the corresponding quarter of the previous financial year.
The EBITDA during the quarter on Y-o-Y basis has improved by 640bps due to Improved business mix resulting in decrease in materials consumption, staff cost and other expenses to net sales by 1.3%, 1.7% and 3.4% respectively, said Aurobindo Pharma in a press release.
The growth was driven by the formulation segment, which posted a growth of 68.1% yoy, driven by the USA markets, which posted a yoy growth of 90.3%, says analyst at Angel Broking in a note.
Meanwhile, the board considered the option of spin-off of the injectable business to a wholly owned subsidiary as a going concern, in order to strengthen and provide focused growth to the injectable business and to leverage strategic opportunities.
The stock opened at Rs 168 and touched high of Rs 177 on NSE. A combined 2.49 million shares changed hands on the counter till 1148 hours on NSE and BSE.
The company’s revenues for the quarter increased by 42% at Rs 1,699 crore against Rs 1,197 crore in the corresponding quarter of the previous financial year.
The EBITDA during the quarter on Y-o-Y basis has improved by 640bps due to Improved business mix resulting in decrease in materials consumption, staff cost and other expenses to net sales by 1.3%, 1.7% and 3.4% respectively, said Aurobindo Pharma in a press release.
The growth was driven by the formulation segment, which posted a growth of 68.1% yoy, driven by the USA markets, which posted a yoy growth of 90.3%, says analyst at Angel Broking in a note.
Meanwhile, the board considered the option of spin-off of the injectable business to a wholly owned subsidiary as a going concern, in order to strengthen and provide focused growth to the injectable business and to leverage strategic opportunities.
The stock opened at Rs 168 and touched high of Rs 177 on NSE. A combined 2.49 million shares changed hands on the counter till 1148 hours on NSE and BSE.
