AUROBINDO PHARMA Announces Quarterly Results (1QFY21); Net Profit Up 25.6%

Tue, 15 Sep

AUROBINDO PHARMA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

AUROBINDO PHARMA Quarterly Financials

No. of Mths Qtr. Ending		3 Jun-19*	3 Mar-20*	3 Jun-20*	QoQ Change	YoY Change
Net Sales	Rs m	54,446	61,584	59,248	-3.8%	8.8%
Other income	Rs m	158	326	1,156	254.7%	632.5%
Turnover	Rs m	54,604	61,910	60,404	-2.4%	10.6%
Expenses	Rs m	42,982	48,422	46,674	-3.6%	8.6%
Gross profit	Rs m	11,337	13,285	12,574	-5.4%	10.9%
Depreciation	Rs m	2,409	2,324	2,555	9.9%	6.1%
Interest	Rs m	499	318	211	-33.8%	-57.8%
Profit before tax	Rs m	8,587	10,968	10,964	0.0%	27.7%
Tax	Rs m	2,278	2,285	3,037	32.9%	33.3%
Profit after tax	Rs m	6,310	8,683	7,927	-8.7%	25.6%
Gross profit margin	%	20.8	21.6	21.2
Effective tax rate	%	26.5	20.8	27.7
Net profit margin	%	11.6	14.0	13.1

Year-on-Year Performance:

• The company's operating income during the quarter grew 8.8% on a year-on-year (YoY) basis. The expenses were up by 8.6% YoY during the same period.
• The company's operating profit increased by 10.9% YoY during the quarter. Consequently, operating profit margins remained same and stood at 21.2% in 1QFY21.
• Depreciation charges increased by 6.1% and finance costs declined by 57.8% YoY, respectively.
• Other income increased by 632.5% YoY during the quarter.
• Net profit for the quarter increased by 25.6% YoY. Net profit margins during the quarter increased from 11.6% in 1QFY20 to 13.1% in 1QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 3.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.6% QoQ during the same period.
• The company's operating profit declined by 5.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.2% in 1QFY21 as against 21.6% in 4QFY20.
• Net profit for the quarter declined by 8.7% QoQ, while net profit margins declined from 14.0% in 4QFY20 to 13.1% in 1QFY21.

To see how AUROBINDO PHARMA has performed over the last eight quarters,please visit here.

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AUROBINDO PHARMA Share Price Performance

Over the last one year,AUROBINDO PHARMA share price has moved up from Rs 629.8 to Rs 806.0, registering a Gain of Rs 176.3 or around 28.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 19,162.7 (up 1.1%). Over the last one year it has moved up from 13,022.7 to 19,162.7, a gain of 6,140 points (up 47.1%).

Overall, the S&P BSE SENSEX is up 4.9% over the year.

Current Valuations

At the current price of Rs 806.0, the price to earnings (P/E) ratio of AUROBINDO PHARMA stands at 15.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.