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Aurobindo Pharma slips 4% post Q2 nos; Credit Suisse, Citi remain bullish

The company reported a 21.7 per cent decline in net profit at Rs 6.11 billion for the quarter ended September 2018, owing to rise in costs.

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The revenue from operations declined to ~69.7 bn for the fourth quarter against ~71.3 bn during the same period last year

SI Reporter New Delhi

Last Updated : Nov 13 2018 | 11:14 AM IST

Shares of pharma company Aurobindo Pharma dropped as much as 4.38 per cent to Rs 763 in the intra-day trade on Tuesday after the company reported a 21.7 per cent decline in net profit at Rs 6.11 billion for the quarter ended September 2018, owing to rise in costs. The company's net profit was Rs 7.81 billion in the corresponding quarter last year.

Total income for the quarter under review grew 7.42 per cent to Rs 47.78 billion, helped by increased sales revenue from the US and other countries as compared with Rs 44.46 billion in the year-ago period.