Aurobindo Pharma slips 7%, hits over 2-year low on weak Q2 results

The company said the second quarter performance was subdued mainly due to the macro-environment factors and higher competitive intensity for some products in the US

Shares of Aurobindo Pharma slipped 7 per cent to hit an over two-year low of Rs 457.20 on the BSE in Monday’s intra-day trade after the company reported a weak set of numbers in the September quarter (Q2FY23). The stock of the drug maker hit its lowest level since April 2020.

The company's consolidated net profit in Q2FY23 came 41 per cent lower on a year-on-year (YoY) basis at Rs 409 crore. 

The company’s revenue from operations declined 3.4 per cent YoY to Rs 5,739 crore in Q2FY23 as against Rs 5,942 crore in the year-ago period. Earnings before