November 12, 2018 / 1:39 PM / 3 months ago

Aurobindo Pharma second-quarter profit falls nearly 22 percent

(Reuters) - Aurobindo Pharma Ltd, India’s second-largest drugmaker by market capitalisation, posted a 21.7 percent fall in its second-quarter profit on Monday, hurt by higher expenses, but beat analysts’ estimates.

Net profit was 6.11 billion rupees ($83.81 million) in the quarter ended Sept. 30, compared with 7.81 billion rupees a year earlier, the company said.

Analysts on average had expected a profit of 6.06 billion rupees, according to IBES data from Refinitiv.

Total expenses rose 14.3 percent to 39.64 billion rupees, while income from operations climbed 7.19 percent to 46.67 billion rupees.

($1 = 72.9050 Indian rupees)

Reporting by Rama Venkat in Bengaluru; Editing by Subhranshu Sahu

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