Aurobindo Pharma fell 4.39% to Rs 1,158.20 at 9:34 IST on BSE after consolidated net profit declined 7.93% to Rs 384.35 crore on 49.34% growth in total income to Rs 3202.08 crore in Q3 December 2014 over Q3 December 2013.
The result was announced after market hours yesterday, 4 February 2015.
Meanwhile, the BSE Sensex was up 55.72 points, or 0.19%, to 28,938.83.
On BSE, so far 50,000 shares were traded in the counter, compared with an average volume of 79,311 shares in the past one quarter.
The stock hit a high of Rs 1,188 and a low of Rs 1,153.10 so far during the day. The stock hit a record high of Rs 1,275 on 3 February 2015. The stock hit a 52-week low of Rs 476.40 on 11 February 2014.
The stock had outperformed the market over the past one month till 4 February 2015, rising 7.01% compared with 3.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.89% as against Sensex's 3.67% rise.
The large-cap company has an equity capital of Rs 29.18 crore. Face value per share is Re 1.
Aurobindo Pharma's operating profit (earnings before interest, taxes, depreciation and amortization) before forex declined 4.9% to Rs 612.20 crore in Q3 December 2014 over Q3 December 2013.
The company's formulation sales rose 76.2% to Rs 2529.70 crore in Q3 December 2014 over Q3 December 2013.
The company's API (active pharmaceutical ingredient) sales fell 9.4% to Rs 674.40 crore in Q3 December 2014 over Q3 December 2013.
Commenting on the Company's performance, N. Govindarajan, Managing Director of the company said: We continue to grow our revenues and maintain profitability despite the absence of any exceptional upside. We have been investing our efforts to further differentiate our product portfolio through initiation of developmental research in highly complex molecules and novel technology platforms, for a sustainable future.
Meanwhile, the board of Aurobindo Pharma approved the proposal for setting up a Joint Venture (JV) with Tergene Biotech, a vaccine development company based in India. Tergene works on development of the Pneumococcal Conjugate Vaccine (PCV) through use of cutting edge vaccine technology compressing time and cost, thereby making such vaccine available at an affordable cost, PCV is a commercially available vaccine with limited competition and a global branded market of more than $5 billion. Aurobindo will hold a majority stake in the JV and will fund the product development in a phased manner spanning over three years. The financial terms are subject to entering into definitive agreements, the company said.
Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company's robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up. The Company is marketing these products globally, in over 125 countries.
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