{"id":11787,"date":"2022-08-19T13:50:00","date_gmt":"2022-08-19T08:20:00","guid":{"rendered":"https:\/\/blogs.univest.in\/?p=11787"},"modified":"2022-10-03T16:18:49","modified_gmt":"2022-10-03T10:48:49","slug":"aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/","title":{"rendered":"Aurobindo Pharma Q1FY23 results profitability affected due to higher input costs"},"content":{"rendered":"<p>Aurobindo Pharma, a fully integrated pharmaceutical company, is ranked among India&#8217;s top businesses in terms of consolidated revenues. The company also entered the high profit speciality generic formulations area with cost-effective production capabilities and a few devoted customers. It is R&amp;D-focused, offers a variety of products, and has 27 State-of-the-art manufacturing and packaging facilities globally,<\/p>\n<p>Additionally, it has been active in more than 155 markets worldwide. Moreover, the company not only dominates the market for semi-synthetic penicillins but also has a foothold in important therapeutic areas like gastroenterology, neuroscience, cardiovascular, anti-retrovirals, and anti-diabetics, among others.<\/p>\n<p>Aurobindo Pharma announced their Q1FY23 results on 12<sup>th<\/sup> August 2022, where they reported lower than expected profits due to cost headwinds creating margins pressure. Geographically speaking, US business grew well YoY, while EU business remained sluggish. The Aurobindo Stock has experienced a big correction on the technical standpoint since the beginning of 2022. It didn&#8217;t make any significant moves on either side after the release of the Q1FY23 data. However, given that the stock is now trading at steep discounts despite the firm being the second-largest <a href=\"https:\/\/univest.in\/sun-pharma-q1fy23-result-reports-a-robust-performance\/\">pharmaceutical company<\/a>, let&#8217;s examine their Q1FY23 numbers to see whether there is any potential for investment.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#Key_Highlights_of_Aurobindo_Pharma_Q1FY23_results\" title=\"Key Highlights of Aurobindo Pharma Q1FY23 results\">Key Highlights of Aurobindo Pharma Q1FY23 results<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#Aurobindo_Pharma_results_Q1FY23_Revenue_grew_94_YoY_while_EBITDA_fell_223_YoY\" title=\"Aurobindo Pharma results Q1FY23: Revenue grew 9.4% YoY while EBITDA fell 22.3% YoY\">Aurobindo Pharma results Q1FY23: Revenue grew 9.4% YoY while EBITDA fell 22.3% YoY<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#Aurobindo_Pharma_results_Q1FY23_PAT_fell_324_YoY_while_PAT_margin_fell_to_88_in_Q1FY23\" title=\"Aurobindo Pharma results Q1FY23: PAT fell 32.4% YoY while PAT margin fell to 8.8% in Q1FY23\">Aurobindo Pharma results Q1FY23: PAT fell 32.4% YoY while PAT margin fell to 8.8% in Q1FY23<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#Technical_Analysis_of_Aurobindo_share_price\" title=\"Technical Analysis of Aurobindo share price\">Technical Analysis of Aurobindo share price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#Our_View\" title=\"Our View\">Our View<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/#About_the_Author\" title=\"About the Author\">About the Author<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Highlights_of_Aurobindo_Pharma_Q1FY23_results\"><\/span><strong>Key Highlights of Aurobindo Pharma Q1FY23 results<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Aurobindo Pharma\u2019s revenues from operations went up by 4% YoY to Rs 6,236 crore and up 7.4% QoQ<\/li>\n<li>US revenue in the Q1FY23 rose 10.8% YoY to Rs 2,971.1 crore, making up 47.7% of total revenues<\/li>\n<li>Sales in Europe fell by 2.2% YoY to Rs. 1,548.9 crore with formulations in accounting for 8% of total sales<\/li>\n<li>EBITDA was at Rs 936 crore, down 23% YoY with margins at 15%.<\/li>\n<li>Aurobindo Pharma said its consolidated net profit for the Q1FY23 was down by 4% YoY to Rs 520.5 crores &amp; fell 9.5% QoQ<\/li>\n<li>Other expenses included one off Rs 60 crores related to reschedule of production process to meet certain regulatory compliance<\/li>\n<li>Company launched 7 new products including 4 injectable in the US market; Filed 13 ANDAs (abbreviated new drug application) including 4 injectable in Q1FY23<\/li>\n<li>Expects to file and launch 20-30 products annually from FY24 onwards<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Aurobindo_Pharma_results_Q1FY23_Revenue_grew_94_YoY_while_EBITDA_fell_223_YoY\"><\/span>Aurobindo Pharma results Q1FY23: Revenue grew 9.4% YoY while EBITDA fell 22.3% YoY<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Aurobindo Pharma\u2019s revenues from operations were up by 9.4% YoY to Rs 6,236 crore during Q1FY23 compared to Rs 5,702 crore in Q1FY22. While on a sequential basis it went up by 7.4% from Rs 5,809 crores in Q4FY22 to Rs 6,236 crores in Q1FY23.<\/p>\n<p>US revenue in the Q1FY23 rose 10.8% YoY to Rs 2,971.1 crore, making up 47.7% of total revenues. While sales in Europe fell by 2.2% YoY to Rs. 1,548.9 crore. Formulations in Europe accounted for 24.8% of total sales. While Rest of the world business grew 30% YoY aided by domestic formulation consolidation.<\/p>\n<p>Further ARV (antiretroviral) sales improved by 28% YoY to Rs 3.8bn (up 10% QoQ). API (Active Pharmaceutical Ingredient) sales grew strongly by 12% YoY on increased demand in key products. Aurobindo continues to be one of the top manufacturers of API globally.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-11793 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Aurbindo1.png\" alt=\"aurobindo pharma share price\" width=\"940\" height=\"491\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo1.png 940w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo1-300x157.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo1-768x401.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/p>\n<p>The company\u2019s EBITDA margins, too, decreased by 620bps on a YoY basis, majorly impacted by cost pressure due to rising RM costs. EBITDA was at Rs 936 crore, down 23% YoY with margins at 15%. The company\u2019s Gross Margins declined by 480bps YoY due to price erosion in the industry, high input (raw material, power, etc) and high logistic costs.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-11794 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Aurbindo2.png\" alt=\"aurobindo pharma share price\" width=\"940\" height=\"487\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo2.png 940w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo2-300x155.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo2-768x398.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Aurobindo_Pharma_results_Q1FY23_PAT_fell_324_YoY_while_PAT_margin_fell_to_88_in_Q1FY23\"><\/span>Aurobindo Pharma results Q1FY23: PAT fell 32.4% YoY while PAT margin fell to 8.8% in Q1FY23<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Aurobindo Pharma said its consolidated net profit for the <a href=\"https:\/\/univest.in\/hindalco-q1fy23-results-delivers-all-time-highest-quarterly-revenues-and-profits\/\">Q1FY23<\/a> was down by 32.4% YoY to Rs 520.5 crores compared to Rs 770 crore in the Q1FY22. While on a sequential basis profits fell 9.5% to Rs 521 crores in Q1FY23 from Rs 576 crores in Q4FY22.<\/p>\n<p>Moreover, the profits have been continuously declining with PAT margin coming down to 8.4% from 13.5% in Q1FY22 &amp; 9.9% in Q4FY22. The main reason for this was building margin pressures that have heavily impacted their profitability.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-11795 size-large\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Aurbindo3-1024x528.png\" alt=\"aurobindo pharma results\" width=\"1024\" height=\"528\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo3-1024x528.png 1024w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo3-300x155.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo3-768x396.png 768w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo3-1536x792.png 1536w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo3.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>Additionally, other expenses were up 3% QoQ and up 20% YoY mainly led by higher freight cost and one-off expenses to the tune of Rs 60 crores. R&amp;D cost came at 5% of sales,down 13% YoY. Further, there was forex loss to the tune of Rs 28 crores.<\/p>\n<p>The company witnessed 2-3% price erosion in base business in the US in Q1FY23 which was negated by volume growth. Further, they expect to minimize impact by new launches.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11796 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Aurbindo4.png\" alt=\"aurobindo pharma results\" width=\"940\" height=\"484\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo4.png 940w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo4-300x154.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo4-768x395.png 768w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/p>\n<p>K Nithyananda Reddy, Vice-Chairman and Managing Director of the company said, &#8220;We delivered a good performance amidst a challenging environment, while reinforcing our growth pillars. Investments in product portfolio continued at a healthy pace as reflected in the filings and launches in the quarter.&#8221;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Technical_Analysis_of_Aurobindo_share_price\"><\/span>Technical Analysis of Aurobindo share price<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The <a href=\"https:\/\/economictimes.indiatimes.com\/topic\/aurobindo-pharma-q1-result\" rel=\"nofollow noopener\" target=\"_blank\">Aurobindo Share price<\/a> has corrected severely, almost 33.7% in a year. The same can be attributed to several factors including RM costs, price erosion &amp; statutory delays. The stock has a huge potential given its future prospects and current market share. Technically the stock is in a bearish phase with 50 EMA below 100 &amp; 200 EMA for more than a year.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11797 size-full\" src=\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Aurbindo5.png\" alt=\"aurobindo pharma results\" width=\"944\" height=\"392\" srcset=\"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo5.png 944w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo5-300x125.png 300w, https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2022\/08\/Aurbindo5-768x319.png 768w\" sizes=\"(max-width: 944px) 100vw, 944px\" \/><\/p>\n<p>Therefore, investors can wait till EMA makes a bullish crossover, to take advantage of a probable investment opportunity.<\/p>\n<p>ICICI Securities said, \u201cWe remain positive on Aurobindo\u2019s long-term outlook considering its strong US pipeline with the possibility to launch more than 20 products every year, potential unlocking of injectable business, significant balance sheet improvement and investments in new segments for future growth. However, recent run up in the stock price (11% in last 1 month) captures the growth potential partially. Hence, we downgrade the stock to ADD from Buy with a revised target price of Rs 632\/share\u201d<\/p>\n<p>While Axis Securities said, \u201cThe overall increase in the competition, persistent price erosion in the US market (68% revenue from the US market), and higher frequency of USFDA inspection may lead to more surprises in upcoming quarters\u2019 results. Keeping this in view, we recommend a HOLD rating on the stock with a Target Price of Rs 630\/share. The management has indicated to demerge the injectable business to unlock the shareholders&#8217; value.\u201d<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Our_View\"><\/span>Our View<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Aurobindo&#8217;s goal to deliver sustained improvement in profitability will go hand in hand with the company&#8217;s focus on the development of specialty product pipeline to create new opportunities for commercial growth in the future.<\/p>\n<p>Further investors can expect the cost pressures to remain in the near term while it is expected that margin trajectory will improve from H2FY23. Therefore, investors need to have a \u2018wait and watch\u2019 approach for a while to see how things play out in future before investing in Aurobindo Pharma.<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"About_the_Author\"><\/span>About the Author<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Ketan Sonalkar (SEBI Rgn No INA000011255)<\/p>\n<p>Ketan Sonalkar is a certified SEBI registered investment advisor and head of research at <a href=\"https:\/\/univest.in\/\">Univest<\/a>. He is one of the finest financial trainers, with a track record of having trained more than 2000 people in offline and online models. He serves as a consultant advisor to leading fintech and financial data firms. He has over 15 years of working experience in the finance field. He runs Advisory Services for Direct Equities and Personal Finance Transformation.<\/p>\n<p><em>Note \u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/em><\/p>\n<p><em>You may also like: <strong><a href=\"https:\/\/univest.in\/hindalco-q1fy23-results-delivers-all-time-highest-quarterly-revenues-and-profits\/\">Hindalco Q1FY23 results\u00a0<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aurobindo Pharma, a fully integrated pharmaceutical company, is ranked among India&#8217;s top businesses in terms of consolidated revenues. The company also entered the high profit speciality generic formulations area with cost-effective production capabilities and a few devoted customers. It is R&amp;D-focused, offers a variety of products, and has 27 State-of-the-art manufacturing and packaging facilities globally,<\/p>\n","protected":false},"author":10,"featured_media":26918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":["post-11787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"metadata":{"_schema_ref":["11166"],"_edit_lock":["1664794031:8"],"_edit_last":["8"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_content_score":["60"],"_yoast_wpseo_estimated-reading-time-minutes":["7"],"nectar_blog_post_view_count":["339"],"_yoast_wpseo_primary_category":["24"],"_yoast_wpseo_focuskw":["Aurobindo Pharma Q1FY23 results"],"_yoast_wpseo_title":["Aurobindo Pharma Q1FY23 results profitability affected"],"_yoast_wpseo_metadesc":["Aurobindo Pharma announced their Q1FY23 results on 12th August 2022, where they reported lower than expected profits due to cost headwinds"],"_yoast_wpseo_linkdex":["78"],"_thumbnail_id":["26918"],"_schema_json":["a:12:{s:8:\"@context\";s:19:\"https:\/\/schema.org\/\";s:5:\"@type\";s:11:\"BlogPosting\";s:16:\"mainEntityOfPage\";a:2:{s:5:\"@type\";s:7:\"WebPage\";s:3:\"@id\";s:100:\"https:\/\/univest.in\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/\";}s:3:\"url\";s:100:\"https:\/\/univest.in\/aurobindo-pharma-q1fy23-results-profitability-affected-due-to-higher-input-costs\/\";s:8:\"headline\";s:80:\"Aurobindo Pharma Q1FY23 results profitability affected due to higher input costs\";s:13:\"datePublished\";s:25:\"2022-08-19T13:50:00+05:30\";s:12:\"dateModified\";s:25:\"2022-08-19T14:10:41+05:30\";s:9:\"publisher\";a:4:{s:5:\"@type\";s:12:\"Organization\";s:3:\"@id\";s:32:\"https:\/\/univest.in\/#organization\";s:4:\"name\";s:7:\"Univest\";s:4:\"logo\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:62:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/06\/Univest-Logo.png\";s:5:\"width\";i:600;s:6:\"height\";i:60;}}s:5:\"image\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:68:\"https:\/\/univest.in\/wp-content\/uploads\/2022\/08\/Untitled-design-79.jpg\";s:5:\"width\";i:1280;s:6:\"height\";i:720;}s:14:\"articleSection\";s:6:\"Market\";s:11:\"description\";s:349:\"Aurobindo Pharma, a fully integrated pharmaceutical company, is ranked among India's top businesses in terms of consolidated revenues. The company also entered the high profit speciality generic formulations area with cost-effective production capabilities and a few devoted customers. It is R&amp;D-focused, offers a variety of products, and has 27\";s:6:\"author\";a:4:{s:5:\"@type\";s:6:\"Person\";s:4:\"name\";s:10:\"Sonam Negi\";s:3:\"url\";s:37:\"https:\/\/univest.in\/author\/sonam-negi\/\";s:5:\"image\";a:4:{s:5:\"@type\";s:11:\"ImageObject\";s:3:\"url\";s:81:\"https:\/\/secure.gravatar.com\/avatar\/845bc2a0115cd624328a1c2e67010285?s=96&d=mm&r=g\";s:6:\"height\";i:96;s:5:\"width\";i:96;}}}"],"_schema_json_timestamp":["1661818679"],"_yoast_wpseo_wordproof_timestamp":[""],"rank_math_primary_category":["24"],"rank_math_title":["Aurobindo Pharma Q1FY23 results profitability affected"],"rank_math_description":["Aurobindo Pharma announced their Q1FY23 results on 12th August 2022, where they reported lower than expected profits due to cost headwinds"],"rank_math_focus_keyword":["Aurobindo Pharma Q1FY23 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