Aurobindo Pharma shares hit all-time high as firm to consider buyback proposal this week

Shares of Aurobindo Pharma hit an all-time of ₹1,360 apiece on the NSE in the opening trade on Monday, July 15, after the company on Sunday informed stock exchanges that its board will meet on July 18 to consider share buyback. On the BSE too, the stock hit a record high of ₹1,366.50.

Shares of the pharma company have given handsome returns to the investors as the stock price has jumped 84% in the past 12 months. In the five year period, the share price has rallied 146%. In comparison, the Nifty Pharma index has jumped 47% in one year. However, on a five-year basis, the stock has underperformed as the pharma index has given a return of 158%.

As per the company's official website, Aurobindo Pharma became a public company in 1992 and listed its shares on the domestic stock exchanges in 1995. The company was founded in 1986 by P V Ramprasad Reddy, K Nityananda Reddy and a group of professionals.

Aurobindo Pharma Q4FY24 Results

The pharma company reported a 79.6% increase in consolidated net profit at ₹909 crore for the March 2024 quarter. The drug firm had reported a net profit of ₹506 crore in the January-March quarter of the FY23 fiscal. Revenue from operations rose to ₹7,580 crore in the period under review as compared with ₹6,473 crore in the year-ago period, said a PTI report.

For the financial year ended March 31, 2024, the drugmaker reported a net profit of Rs 3,173 crore as against ₹1,927 crore in FY23.