Aug 9 (Reuters) - Aurobindo Pharma Ltd reported a 12 percent fall in quarterly profit on Thursday and missed analysts’ expectations, hurt by higher expenses.
Net profit was 4.56 billion rupees ($66.40 million) in the first quarter ended June 30, compared with 5.19 billion rupees a year earlier, the Hyderabad-headquartered company said in a statement bit.ly/2MdMEAt.
Analysts on average had expected a net profit of 5.29 billion rupees, according to estimates by Thomson Reuters I/B/E/S.
Expenses rose 24.4 percent to 37.23 billion rupees, while revenue from operations stood at 41.82 billion rupees. ($1 = 68.6750 Indian rupees) (Reporting by Sharnya G and Chris Thomas in Bengaluru; Editing by Subhranshu Sahu)