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Aurobindo Pharma Q1 profit drops 12% to Rs 456 crore

9 August, 2018 12:43 PM
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Aurobindo Pharma Q1 profit drops 12% to Rs 456 crore

Total income rose 16 percent to Rs 4,091.8 crore in Q1FY19 compared to previous year's Rs 3700 crore.

Aurobindo Pharma Thursday reported 12 percent decline in its June quarter net profit to Rs 455.7 crore, missing analysts' estimates. In the same quarter last year net profit was Rs 518.5 crore.

Total income rose 16 percent to Rs 4,294 crore in Q1FY19 compared to previous year's Rs 3,700 crore.

The revenue growth was led by Europe, driven by the acquisition of Generis Farmaceutica, the Portugal company that Aurobindo bought from Magnum Capital Partners for €135 million (around Rs 969 crore).

Analysts polled by Reuters saw net income of the country's second-largest drug maker at Rs  539 .5 crore and revenues at Rs 4,091.8 crore for the first quarter of FY19.

Also read: Lemon Tree Hotels rises nearly 4% post company reports profit in Q1

Source: moneycontrol.com

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