Drug maker Aurobindo Pharma Ltd reported an 11 per cent fall in quarterly profit, hurt by lower sales from its formulations business in the US and pre-launch disruptions of a pan-India tax reform. Profit for the three months ended June 30 fell to Rs 519 crore ($81.15 million) from 5.85 billion rupees a year earlier, the company, which is engaged in producing oral and injectable generic formulations, said on Wednesday. Analysts on average expected Aurobindo to post a profit of Rs 567 crore, Thomson Reuters data showed. US formulations sales, which accounted for 46 per cent of ...
Aurobindo Pharma Q1 net drops 11% at Rs 519 cr on low US sales, GST
Shares of the company closed 6% lower at Rs 683.60
Reuters Last Updated at August 9, 2017 18:50 IST