You are here: Home » Companies » Results
Business Standard

Aurobindo Pharma Q1 consolidated net profit declines 2% to Rs 770 crore

Aurobindo Pharma on Thursday reported a 1.68 per cent decline in its consolidated net profit to Rs 769.97 crore for the quarter ended on June 30, 2021, mainly on account of reduction in expenses

Topics
Aurobindo Pharma | Q1 results

Press Trust of India  |  New Delhi 

Aurobindo Pharma
Aurobindo Pharma

Drug firm on Thursday reported a 1.68 per cent decline in its consolidated net profit to Rs 769.97 crore for the quarter ended on June 30, 2021, mainly on account of reduction in expenses.

The company had posted a net profit of Rs 783.16 crore for the corresponding period of the previous fiscal, said in a regulatory filing.

Consolidated total revenue from operations of the company stood at Rs 5,701.98 crore for the quarter under consideration. It was Rs 5,924.78 crore for the same period a year ago, it added.

"The quarter's performance reflected the resilience in our operations amidst the current challenging times. We remain focused on ensuring business continuity on the operations front and to resolve regulatory issues in some of our facilities," MD N Govindarajan said.

The company's business is well prepared to navigate the journey towards profitable growth and it looks forward to execute on its key growth pillars, he added.

The expenses of the company were at Rs 4,785.17 crore for the quarter ended June 2021 against Rs 4,944.02 crore for the corresponding period of the previous fiscal.

Total tax expenses of the company stood at Rs 247.74 crore for the quarter ended June this year against Rs 301.19 crore for the same period a year ago, the filing said.

The Board has declared an interim dividend of Rs 1.50 per share, Aurobindo Pharma said.

The company has entered into definitive agreements under which it will subscribe to fresh equity shares in Cronus Pharma Specialities India Pvt Ltd, subject to closing conditions, amounting to Rs 420 crore. Subsequent to this investment, the company will own 51 per cent of the equity share capital of Cronus, it added.

Shares of Aurobindo Pharma closed at Rs 825.70 on BSE, down 3.64 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, August 12 2021. 21:30 IST
RECOMMENDED FOR YOU
.