City pharma company Aurobindo Pharma on Tuesday jumped over 13 per cent even as it posted a 4 per cent dip in consolidated net profit for the fourth quarter ended March 2017. The stock surged 12.94 per cent to end at Rs 580.15 on BSE. During the day, it soared 13.68 per cent to Rs 584. At NSE, shares of the company zoomed 13.25 per cent to close at Rs 580.30.
Following the sharp surge in the stock, it’s market valuation went up by Rs 3,893.97 crore to Rs 33,989.97 crore. Aurobindo Pharma on Monday posted a 4 per cent dip in consolidated net profit at Rs 532.22 crore for the fourth quarter ended March 2017.
The company had posted a net profit of Rs 554.51 crore during the same period of the previous fiscal. Total income was lower by 2.6 per cent for the fourth quarter at Rs 3,682.41 crore, as compared to Rs 3,782.3 crore in the same period of previous fiscal, Aurobindo said.
For the full year, the company saw net profit rising 13.7 per cent at Rs 2,301.2 crore, while total income was up 7.3 per cent to Rs 15,205.75 crore over the previous fiscal. The Board of Directors has approved a second interim dividend of Rs 1.25 per equity share of Re 1 for the financial year 2016-17.
Natco Q4 surges 3-fold Natco Pharma on Tuesday posted nearly three-fold increase in consolidated net profit at Rs 176.7 crore for the fourth quarter ended March, on the back of robust sales in the US market.
The Hyderabad-based firm had reported a net profit of Rs 62.8 crore during the same period of previous fiscal. The company’s net revenue rose to Rs 577.2 crore for the fourth quarter as compared to Rs 394.8 crore in the previous fiscal, Natco Pharma said.
For the year ended March 31, it posted a consolidated net profit of Rs 486 crore as compared to Rs 157.1 crore last year, showing a growth of 209.3 per cent. Total revenue for the year rose to Rs 2,078.9 crore for the year as against Rs 1,089.7 crore for the last year, reflecting an year-on-year growth of 90.8 per cent. “The revenue and profit growth for the company during the financial year was driven primarily due to the sales of generic Oseltamivir product in the US market and continued growth of domestic formulations business,” the company said.