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Aurobindo Pharma share rises over 6% on strong Q2 earnings

Aurobindo Pharma share rose up to 6.4% to Rs 863.60 against previous close of Rs 811 on BSE

twitter-logoBusinessToday.In | November 12, 2020 | Updated 12:00 IST
Aurobindo Pharma share rises over 6% on strong Q2 profit
Aurobindo Pharma share rises over 6% on strong Q2 profit

Aurobindo Pharma share rose over 6% today after the firm reported a 26 per cent rise in consolidated net profit in Q2. The share rose up to 6.4% to Rs 863.60 against previous close of Rs 811 on BSE. The pharma share has gained 96.53% in one year and risen 88% since the beginning of this year.

Total 5.23 lakh shares changed hands amounting to turnover of Rs 44.41 crore  on BSE. Market cap of the firm rose to  Rs 50,214 crore.

The share has gained 12.12% in the last 2 days.

Aurobindo Pharma share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The firm reported a 26 per cent rise in consolidated net profit at Rs 805.65 crore in Q2 against net profit of Rs 639.53 crore in the same quarter last fiscal.

Consolidated total revenue from operations during the period under review stood at Rs 6,483.44 crore as against Rs 5,600.47 crore in the corresponding quarter last fiscal.

The company's board has cleared a second interim dividend of 125 per cent at Rs 1.25 per equity share of Re 1 for the financial year 2020-21.

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Managing Director N Govindarajan said: "We continue to perform well across all our key geographies and segments to report a consistent set of earnings."

"On our endeavour towards our differentiated products basket, we are happy to state that we have completed phase I clinical trials for our first biosimilar and started trials for three more products. We reiterate that we are committed to resolving all pending regulatory issues," he further said.

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