Aurobindo Pharma shares give up most of early gains; close over 1 pc higher

Shares of Aurobindo Pharma on Thursday gave up most of their early gains on profit-booking and closed over 1 per cent higher. In early trade, the scrip had gained over 5 per cent to touch its one-year high after the company reported a 45 per cent rise in consolidated net profit for the quarter ended March 2020.

The stock closed at Rs 759.15, a gain of 1.13 per cent after jumping 5.37 per cent to Rs 791 during the day on the BSE. On the NSE, it closed 1.51 per cent higher at Rs 761.75 after surging 5.41 per cent to its 52-week high of Rs 791 during the trade. In traded volume terms, 5.41 lakh shares changed hands on BSE and 1.87 crore shares were traded on NSE during the day.

The company on Wednesday reported a 45.07 per cent rise in its consolidated net profit to Rs 848.99 crore for the quarter ended March 31, mainly on account of robust formulation sales in all markets. It had posted a net profit of Rs 585.22 crore for the corresponding period of the previous financial year, Aurobindo Pharma said in a filing to the BSE.

Its consolidated total revenue from operations stood at Rs 6,158.43 crore for the quarter under consideration as against Rs 5,292.20 crore for the corresponding period a year ago, it added. For the fiscal year ended March this year, the net profit of the company stood at Rs 2,829.51 crore as against Rs 2,364.50 crore for the previous fiscal year, Aurobindo Pharma said.

The company's consolidated revenue from the operations for the fiscal year ended March 2020 stood at Rs 23,098.50 crore. It was Rs 19,563.55 crore for the year ago fiscal, it added..

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)