Aurobindo Pharma on May 27 posted a decline of 12 percent in its net profit for the fourth quarter of fiscal year 2022-23, whereas, the company's revenue during the same period climbed by 11 percent.
The net profit during the March quarter came in at Rs 506 crore as against Rs 576.5 crore reported in the year-ago period.
The Hyderabad-headquartered drugmaker also recorded an 11 percent gain in revenue at Rs 6,473 crore in Q4FY23 compared to Rs 5,809 crore in the corresponding period of the preceding fiscal.
The net profit and revenue clocked in the fourth quarter are higher than a CNBC TV-18 poll. The news channel had estimated the profit after tax to come in at Rs 497 crore, whereas, the revenue was seen at Rs 6,382 crore.
The earnings before interest, taxes, depreciation and amortization (EBITDA) came in at Rs 1,002 crore during the quarter under review, which is 3 percent higher against Rs 974.4 crore recorded in the year-ago period. The margin, however, slumped by 130 basis points as it came in at 15.5 percent in Q4FY23 compared to 16.8 percent in Q4FY22.
Aurobindo Pharma's Managing Director K Nithyananda Reddy, while commenting on the financial results, said the quarterly performance was "decent" and the company was on track to execute its growth plans.
“We saw decent performance in the current quarter, on the back of stable demand and pricing environment across our portfolio and geographies. We remain committed to executing our growth strategies, continuing new launches, and focusing on operational efficiencies," Reddy said.
In the last trading session on May 26, Aurobindo Pharma's shares inched higher in the stock market. The scrip settled at Rs 614.55 at the BSE, which was 1.58 percent higher than its last closing price.
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