Aurobindo Pharma jumps higher after mixed December quarter results; here's what Macquarie says about it

Aurobindo Pharma Share Price: After mixed results in the December quarter, the Aurobindo Pharma stock got a morning boost on BSE on Monday as it traded higher.   

The stock of the pharma company closed the trading session up by 1.59 per cent, or Rs 15.95, at Rs 1017.95 on Monday.

Aurobindo Pharma Q3 Results

The company's consolidated profit after tax (PAT) skyrocketed by 91 per cent to Rs. 940 crore against Rs 491 crore Year-on-Year (YoY) compared to Zee Business research estimates of Rs. 904 crore.

The company's revenue from operations for the December quarter was up by 15 per cent to Rs 7352 crore in Q3 compared to 6407 crore YoY, below research estimates of Rs 7421 crore.

Its margin for the December quarter also beat analyst estimates as the company reported a 21.8 per cent margin in Q3 against 14.9 per cent in the same quarter last fiscal, above research estimates of 21 per cent.

What does Macquarie say about Aurobindo Pharma? 

After the third quarter results, Macquarie has maintained an 'outperform' rating on the company, giving a target of Rs 1300.