Aurobindo Pharma Ltd’s shares have lost more than 10% in the past three sessions to touch a 52-week low as a lacklustre June-quarter performance has irked investors. US revenues at $364 million during the June quarter were lower than $393 million in the previous quarter. Other regions such as Europe looked up, which clocked revenue growth of 19.7% year-on-year (y-o-y). On the other hand, the 30.3% decline in ARV (anti-retroviral) business also meant revenue growth was limited to 2.9% y-o-y. Besides the progress on the acquisition, Aurobindo Pharma would need to show improvement in its US business for its shares to show a turnaround.

Source: Mint August 17, 2021 17:15 UTC