Aurobindo Pharma drops after poor Q2 result

Aurobindo Pharma lost 4.11% to Rs 765.50 at 12:35 IST on BSE after consolidated net profit dropped 21.73% to Rs 611.43 crore on 7.43% rise in total income to Rs 4777.90 crore in Q2 September 2018 over Q2 September 2017.

The announcement was made after market hours yesterday, 12 November 2018.

Meanwhile, the S&P BSE Sensex was up 25.33 points, or 0.07% to 34,838.32

On the BSE, 3.10 lakh shares were traded in the counter so far compared with average daily volumes of 1.50 lakh shares in the past two weeks. The stock had hit a high of Rs 814.85 and a low of Rs 760.25 so far during the day.

Aurobindo Pharma's consolidated EBIDTA before forex and other income fell to Rs 1026 crore in Q2 September 2018 from Rs 1117.3 crore in Q2 September 2017. EBITDA margin fell to 21.6% from 25.2%.

Aurobindo Pharma's wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire a product under development and related assets from 'Advent Pharmaceuticals Pty Ltd., Australia, through AuroScience Pty, Melbourne, a 100% subsidiary of Aurobindo Pharma USA Inc., USA.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company's product portfolio is spread over major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, Anti-Allergies and Anti-Diabetics.

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