Aurobindo Pharma Gains 18.5 Percent To Hit 52-Week High

On Monday, November 13, 2023, i.e. today, Aurobindo Pharma shares hit a 52-week high. The share reached Rs 1015 in intraday deals following a strong performance in the second quarter of the current financial year. Yes, you heard it right, Aurobindo Pharma is one of the top performers this month. The standout performance of Aurobindo Pharma shares gained a whopping 18.5 percent. If we compare the Sensex with the Aurobindo Pharma, the Sensex only gained 1.8 percent. So far, Aurobindo Pharma has been one of the top outperformers this month. On the back of a strong second quarter in the current fiscal year, Aurobindo Pharma hit a 52-week high at Rs 1015 in intraday deals. If you are scrambling to the web regarding the same, the following section waiting for you. Stick with this page and go through it till the end. Drag down.

Aurobindo Pharma

When the market opened on Monday, the stock was trading at Rs 999 with a gain of 2 percent on volumes of around 39,000 shares listed on the Bombay Stock Exchange. While the S&P BSE Sensex was trading 0.4 percent or 255 points down at 65,005. So far this month, Aurobindo Pharma has been one of the top outperformers as it rose 18.5 percent. The Sensex only gained 1.8 percent. Aurobindo Pharma reported an unexpected 84.9 growth in consolidated net profit gaining Rs 752 crore during the second quarter of the current fiscal year in comparison to the corresponding quarter a year ago when it gained Rs 409 crore.

The strong profit growth was assisted by strong sales in core markets the United States and Europe amid stabilizing drug prices. Revenue from operations surged 25.7 percent YoY from Rs 5,739 crore to Rs 7,219 crore in the second quarter of the current fiscal year. Vice-Chairman Nithyananda Reddy said, “This is yet another quarter with highest-ever sales, driven by robust performance across the markets, and continued margin expansion, aided by operational leverage and efficiencies,”.

EBITDA margin regained 486 bps to 19.4 percent from 14.6 percent. Additionally, the company’s board also approved a dividend of Rs 3 per share. In October, the US Food and Drug Administration (FDA) approved Aurobindo Pharma’s subsidiary Eugia Pharma Specialities Limited to manufacture and market Testosterone Cypionate injection at concentrations of 100 mg/mL and 200 mg/mL in multi-dose vials and 200 mg/mL in single-dose vials. The approved product has an estimated market size of $226.8 million for the 12 months ending August 2023, said research firm IQVIA. Stay tuned to this website for more details and further updates.

Amzad Khan
Amzad Khan

Hey there, guys. I am Amzad Khan. I enjoy writing on topics related to my interests in gaming and technology. My work has attracted a dedicated fan base thanks to the fresh and unexpected angle I bring to each piece.