Glaxosmithkline Pharmaceuticals (Glaxo), Dr Reddy's Laboratories (DRL) and Aurobindo Pharma are expected to post a growth of 13 percent to 20 percent in their December quarter revenues, brokerage firm Angel Broking said in a note on Tuesday.
Shares of the three companies were trading in the red at around 1:05 pm, while the S&P BSE Sensex was down 320 points, or 1.33 percent, at 23,967.86.
The Indian arm of British drug company GlaxoSmithKline Plc is expected to post sales of Rs 730 crore for the December quarter, an increase of about 13 percent from Rs 646.2 crore in the corresponding quarter last fiscal, led by price hike and volume growth, said Angel Broking. Operating margin is likely to be around 18 percent while adjusted net profit is pegged at Rs 102.70 crore, up 55 percent from Rs 66.1 crore in the year-ago period.
The company will be declaring its December quarter results on 10 February.
Dr Reddy's Labs is likely to report a topline of Rs 4,420 crore for the third quarter ended December 2015, as against Rs 3,843 crore in the corresponding period last year, a growth of 15 percent, driven by both domestic and US sales. Operating margin is expected to be around 27 percent, up from 23 percent, year-over-year. The adjusted net profit is expected at Rs 746 crore, up 30 percent from Rs 574 crore, year-over-year.
The Hyderabad-based company will be declaring its December quarter results on 9 February.
The company's third quarter revenues are estimated at around Rs 3,800 crore, an increase of 20.9 percent over the year-ago period revenues. The operating margin is expected to come at 53.1 percent, up from 51 percent in the third quarter of FY2015, the Angel Broking report highlighted. Aurobindo Pharma's adjusted net profit is likely to come at Rs 613.4 crore, as against Rs 399 crore in the third quarter of FY2015, an increase of 53.7 percent.
The company will be declaring its third quarter results on 10 February.
Glaxo was trading at Rs 3,260, down 0.94 percent, DRL at Rs 3,010, down 1.96 percent and Aurobindo Pharma at Rs 729.35, with a loss of 2.30 percent.
On 5 February, Lupin Pharma reported its quarterly net profit at Rs 530 crore, down 11.82 percent from Rs 601 crore in the year-ago period, while net sales inched 6 percent higher to Rs 3,358 crore, from Rs 3, 145 crore in the third quarter of last fiscal.