Aurobindo Pharma dips 5% on weak operational performance in June quarter

Aurobindo Pharma has entered into definitive agreements under which the Company will subscribe to fresh equity shares in Cronus amounting to Rs 420 crore

Shares of Aurobindo Pharma dipped 5 per cent at Rs 781 on the BSE in the intra-day trade on Friday after the company reported a disappointing operational performance in June 2021 quarter (Q1FY22), amid decline across US market & antiretroviral (ARVs).

In Q1FY22, the company’s profit after tax (PAT) was down 1.7 per cent year on year (YoY) and 4 per cent quarter on quarter (QoQ) at Rs 770 crore. It was, however, in-line with analysts' estimate on higher than expected other income and a lower tax rate. Revenue, meanwhile, de-grew 3.8 per cent YoY and 5.0 per cent