Aurobindo Pharma Hits 52-Week High on Strong Q1FY24 Earnings

Aurobindo Pharma has reported results for the first quarter ended June 30, 2023, or Q1FY24 on August 12, 2023. The company has reported an over 2-fold jump in its net profit at Rs 335.95 crore for the quarter under review as compared to Rs 122.16 crore for the same quarter in the previous year. The total income of the company increased by 39.68% at Rs 2,485.70 crore for Q1FY24 as compared to Rs 1,779.53 crore for the corresponding quarter previous year. 

On a consolidated basis, the company has reported a 9.48% rise in its net profit at Rs 569.71 crore for the first quarter ended June 30, 2023, as compared to Rs 520.38 crore for the same quarter in the previous year. The total income of the company increased by 11% at Rs 6,966.85 crore for Q1FY24 as compared to Rs 6,276.54 crore for the corresponding quarter previous year. 

Sequentially on a consolidated basis, the company’s net profit for the quarter which ended on June 30, 2023, increased by 12.61% from Rs 505.91 crore. In Q1FY24, the company’s total net revenue increased by 5.43% from Rs 6,607.87 crore in the similar quarter the year prior. 

Highlights for the quarter were Research & Development (R&D) spending was at Rs 388 crore in Q1FY24, 5.7% of revenue Vs Rs 411 crore in Q4FY23, 6.3% of revenue. Net capex for the quarter was nearly USD 95 million including an investment of USD 34 million in the PLI project and capex of USD 12 Million for various new businesses and markets. 

Today, Aurobindo closed at Rs 871.75, up by 1.01% from its previous closing of Rs 863.05. The scrip opened at Rs 864.75 and touched a fresh 52-week high at Rs 887.20 and it has a 52-week low of Rs 397.30. The BSE group ‘A’ stock of face value of Rs 1 and has a market cap of around Rs 51,050 crore. Over the past one year shares of the company have given a staggering return of 49.31%. 

Aurobindo Pharma is principally engaged in the manufacturing and marketing of active pharmaceutical ingredients, generic pharmaceuticals and related services. 

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