US formulation revenue for the quarter ended June this fiscal was at Rs 3,107.1 crore as against Rs 2,688.4 crore in the first quarter of financial year 2020, registering a growth of 15.6 per cent year-on-year and accounting for 52.4 per cent of the consolidated revenue, the company said in a filing.
Interim dividend of Rs 1.25 per equity share of Re 1 has been approved by the board for financial year 2020-21, it said.
At 9:46 AM, the stock was trading 2.35 per cent lower at Rs 912.05 as compared to 0.36 per cent gain in the benchmark S&P BSE Sensex. Around 39 lakh shares have already changed hands on the counter on the BSE and NSE combined.
Motilal Oswal, which has a 'BUY' rating on the stock, said that Aurobindo's results were operationally in-line with the estimates.
"Growth in other segments was partially offset by revenue decline of 5 per cent YoY to Rs 1,320 crore in Europe (22 per cent of sales), and (b) 8 per cent YoY to Rs 290 crore in Growth Markets
(5 per cent of sales). Gross margin (GM) was up 160bp YoY to 59.4% due to superior product mix. However, Ebitda margin at 21.2 per cent (v/s est. 20.5%) was almost flat YoY. As per centage of sales, this was due to increase in other expenses (+90bp), higher employee cost (+70bp), which was offset by R&D expense reduction (-20bp YoY)," it said.
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