As the stock market keeps a close eye on US sales recovery and its impact on the December quarter performance, the Hyderabad-based drug maker Aurobindo Pharma is all set to post its Q3 results today (Thursday, February 9). Though the analysts still expect the company's revenue to be flattish on a yearly basis, they estimate that its margin could be supported by lower raw material costs, which may offset the pricing pressure.
As per CNBC-TV18's poll, the pharma company is expected to report 532.9 crores in profit with revenue being 5,944 crores. This is a sharp reduction with respect to 604.7 crore and 6,002.2 crores it reported in Q3FY22.
The poll, however, expects that the margins to increase by 17 percent against 16 percent reported a year earlier. The poll suggests that EBITDA wll stand at 942.6 against 1016.3 crore that Aurobindo Pharma reported in Q3FY22.
One of the top Pharma companies in India said that it has received the nod from the United States Food and Drug Administration (USFDA) for its topical solution for osteoarthritis pain. Aurobindo Pharma said in its regulatory filing that USFDA gave its final approval to manufacture and market Diclofenac Sodium Topical Solution USP.#3QWithCNBCTV18 | Aurobindo to report its #Q3 results today, February 9. The street expects #revenue to be flattish on yearly basis. The street will closely watch out for recovery in US sales. Margin could be supported by lower raw material costs offsetting price pressure pic.twitter.com/Qvsyz3x6Xt
— CNBC-TV18 (@CNBCTV18Live) February 9, 2023
Soon after the news spread, the share price of the pharma company surged almost 6 percent on Wednesday's afternoon. The stock of Aurobindo Pharma is now trading at Rs 437.05, down 1.76 percent on NSE.
(Edited by : C H Unnikrishnan)
First Published: Feb 9, 2023 1:26 PM IST
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