Shares of this pharmaceutical company rose by 6.15 percent after the company received approval to launch its Revlimid drug.
At 11.04 am, 29th september shares of Aurobindo pharma were trading at Rs. 927 per share which is 6.11 percent up from previous close price of Rs. 873 per share.
According to the sources from Zee business, the company got approval for launching its Revlimid drug which is a cancer drug. It is used to treat adults with multiple myeloma. The launch of this drug is expected to be next week. Launch of this drug can potentially increase the revenue, profit and margins for the company.
Having a walkthrough at financial reports, the company’s revenue has increased by 9.86 percent from Rs. 6472.96 crore in Q4FY23 to Rs. 6850.52 crore in Q1FY24. Moreover, the company’s profit increased by 9.65 percent from Rs. 506.27 crore in Q4FY23 to Rs. 570.75 crore in Q1FY24.
Looking at the financial ratios, Company reported Return on equity (ROE) of 7.5 percent and return on capital employed (ROCE) of 9.39 percent in the last financial year.
Aurobindo pharmaceuticals is hyderabad based company engaged in manufacturing of generic pharmaceuticals and active pharmaceutical ingredients. The company is amongst top 5 listed pharmaceutical companies in India by FY22 revenue.
Written by Vinit Israni
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