Aurbindo Pharma net profit widens, Stock falls

India’s second largest drug manufacturer Aurobindo Pharma Limited saw it  net profit rose to Rs. 712.2 crore for the  third quarter ended December 2018 as compared to  Rs. 595 crore it had reported during the corresponding period previous fiscal.

The company reported total income of Rs. 5,269.7 crore for the quarter ended December 2018 compared to Rs. 4,336.1 crore in the equivalent quarter last year, up 21.53 percent year on year.

Selling pressure gripped on Aurobindo Pharma stock to some extent on Friday morning. The scrips of Aurobindo Pharma Ltd opened at Rs. 789.90 per share against Thursday’s close of Rs. 778.45 per share on the NSE.  During mid-market trading session, the stock was quoting at Rs 758.00, down by 2.63 percent.  The stock reached an intraday high of Rs. 789.90 and an intraday low of Rs 752.90.  Meanwhile, both benchmark indices continue their down trends, falling 0.61 percent each at around 12.15 hrs.