Aurobindo Pharma Q1 net profit down 11% at Rs 518 cr

Aurobindo Pharma today reported an 11.38 per cent decline in consolidated net profit at Rs 518.33 crore for the first quarter ended June 30, 2017.
The company had posted a net profit of Rs 584.90 crore during the same period of previous fiscal, Aurobindo Pharma said in a BSE filing.
Net sales during the quarter under review stood at Rs 3,621.07 crore as against Rs 3,704.60 crore in the year-ago period, down 2.25 per cent.
Commenting on the result, Aurobindo Pharma Managing Director N Govindarajan said: " We believe the momentum to sustain going forward driven by changing product mix towards complex products. We remain focused on strengthening our existing businesses and developing a differentiated and speciality driven product basket."

Total expenses during the period remained almost flat at Rs 3,004.03 crore as compared to Rs 3,004.51 crore in the corresponding quarter of last fiscal.
The company's US sales accounted for Rs 1,694.9 crore as against Rs 1,703.9 cr in the first quarter of FY17.
It has received final approval for 17 ANDAs and tentative approval for 3 ANDAs during the quarter.
The stock closed 5.84 per cent down at Rs 684.15 on BSE.