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Aurobindo Pharma Q4 Net dips 4% to Rs 532 crore

Aurobindo Pharma Q4 Net dips 4% to Rs 532 crore

New Delhi:  Aurobindo Pharma 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 Pharma said in a regulatory filing.

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 second interim dividend of Rs 1.25 per equity share of Re 1 for the financial year 2016-17.

The results were announced after the close of trading hours.

Shares of the company closed at Rs 513.70 apiece, down 3.67 per cent from the previous close on the BSE.

Aurobindo Pharma said its Board, in September 2013, had approved the transfer of its injectable unit to its wholly owned subsidiary — Curepro Parenterals.

This was subject to requisite permissions but with such approvals still pending, no effect of this scheme has been given till date.

“The Board of Directors at their meeting held on May 29, 2017 decided not to transfer the unit, considering the expansion and growth plans of the company subject to the approval of appropriate authorities including Honble High Court or Tribunal as the case may be,” it said.

Source: PTI
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