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Aurobindo Pharma share hits 52-week high post Q4 earnings

Aurobindo Pharma share price opened with a gain of 3.91% today and later touched an all-time high of Rs 791, rising 5.38% on BSE against the last closing value of Rs 750.65

twitter-logoBusinessToday.In | June 4, 2020 | Updated 12:12 IST
Aurobindo Pharma share hits 52-week high post Q4 earnings
Aurobindo Pharma reported a 19.7% rise in net profit at Rs 2,831 crore in FY20 against Rs 2,364.7 crore in FY19

Aurobindo Pharma share price hit 52-week high of Rs 791, rising 5% after the pharma major posted its March quarter earnings on Wednesday.

Aurobindo Pharma share price opened with a gain of 3.91% today and later touched an all-time high of Rs 791, rising 5.38% on BSE against the last closing value of Rs 750.65.

With today's volume traded already crossing yesterday's total volume, Aurobindo Pharma share price is trading higher than 5, 20, 50, 100 and 200-day moving averages. The stock has risen 8% in one week, 18% in one month and 68.61% since the beginning of the year. Aurobindo Pharma share has gained 17.86% in one year, 29.91% in 3 years, 17% in 5 years, 824.73% in 10 years.

Aurobindo Pharma reported a 19.7% rise in net profit at Rs 2,831 crore in FY20 against Rs 2,364.7 crore in FY19. Revenue from operations stood at Rs 23,098.5 crore in the fiscal year 2019-20 compared to Rs 19,563.6 crore in the fiscal year 2018-19.

In the fourth quarter ended March FY20, revenue from operations was recorded at Rs 6,158.4 crore. The revenue witnessed a strong growth of 16.4 per cent over the corresponding previous period. In Q4 FY20, the net profit stood at Rs 849.8 crore as against Rs 585.4 crore in the corresponding previous period, an on-year growth of 45.2 per cent.

The company has received final approval for 22 (abbreviated new drug applications) ANDAs and tentative approval for 4 ANDA from the US Food and Drug Administration (USFDA).

Meanwhile, Aurobindo Pharma's oral solid manufacturing facility at Dayton, New Jersey has received Form 483 with 9 observations from USFDA, classified as Official Action Indicated.

"We have closed FY20 with a healthy performance in Q4. The growth was seen across all our geographies. Diversified product basket has helped us to maintain the growth momentum in our core geographies like the USA and Europe. We remain focused on strengthening our existing businesses, developing a differentiated & speciality product basket and regulatory compliance," N Govindarajan, Managing Director of the company said.

On Wednesday, shares of Aurobindo Pharma ended at Rs 750.65, up 16.75 points, or 2.28 per cent on NSE.

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