Aurobindo Pharma’s net profit fell by 22% in Q3

Aurobindo Pharma on Wednesday declared its Q3 earnings. The results are very disappointing for the pharmaceutical company. It suffered a loss of 22% in its net profit. It managed to earn a profit of 604.29 in the third quarter whereas it registered a profit of 777.3 crores in the same quarter of the last fiscal year.Despite not achieving the desired result, the company’s board of directors has announced an interim dividend of ₹1.50 per equity share. On the company’s disappointing third-quarter result, K Nithyananda Reddy who is the vice-chairman and managing director said: "The quarter's performance was impacted by high input and freight costs that weighed on profitability. However, our business was resilient in delivering steady revenues, led by APL business benefiting from improved demand for our key products”. Company’s revenue from operations also declined by 1%.