Aurobindo Pharma's consolidated net profit fell 32.4 percent to Rs 520.5 crore in the April-to-June period this fiscal.
In the same period last year, the pharma company had reported its net profit as Rs 770 crore. It was also 17.4 percent below the Street's expectations.
The company's income however increased 9.4 percent to Rs 6,235.9 crore. It was also 3.2 percent more than the Street estimates of Rs 6,042.4 crore.
K Nithyananda Reddy, the company's vice-chairman and managing director, said, "We delivered a good performance amid a challenging environment, while reinforcing our growth pillars. Investments in product portfolio continued at a healthy pace as reflected in the filings and launches in the quarter."
He said the company's focus on the development of specialty products pipeline will establish new avenues to grow the business in the future and along with that "Aurobindo's aim to drive sustained improvement in profitability through newer avenues will enhance improved profitability over medium to long term."
Aurobindo Pharma reported its earnings before interest, taxes, depreciation, and amortization (EBITDA) at Rs 936.5 crore, which was 22.5 percent lower than last year's Rs 5,702 crore. It was also 12.4 percent below Street expectations.
Its EBITDA margin too declined by 620 bps to 15 percent from last year's 21.2 percent. The Street had pegged the company's EBITDA margin to be 17.7 percent.
Shares of Aurobindo Pharma ended today's Thursday's session nearly 2 percent higher at Rs 575.45 apiece on the BSE, ahead of its quarterly earnings reports which were released later in the day.
