Aurobindo Pharma Ltd’s March quarter results were a step ahead of the Street's expectations with revenues and profitability showing all-round improvement.
The steady Q4FY20 performance pushed its share price higher by about 3% on Thursday. Aurobindo’s revenue growth across geographies is encouraging, particularly from the overseas markets.
Its US formulations business clocked a steady growth of 21% year-on-year (YoY) in Q4. Europe formulations business also saw a decent increase of about 26% YoY.
The increase in anti-retroviral sales were a decent 31% y-o-y. Some of this could be attributed to pre-stocking though. Its Rest-of-the-World business stood at 30% YoY, which was even ahead of the US market.