Aurobindo Pharma is the top gainer on the BSE since the opening bell. The stock hit an intra day high at Rs.777.50 and currently remains over 5% up at Rs.773 levels.

The market is extremely enthused with the company’s Q1FY17 performance. On a 13% (YoY) rise in net profit, the company posted a 24% rise in net profit at Rs.585 crore. The pharma major earnings was helped by a 16% rise in formulations at Rs.3032 crore while API business showed a 2% increase in revenue at Rs.734 crore.

The company’s EBITA showed a 23% rise at Rs.889 crore while margins rose from 22% to 24%. This very good show was despite a forex loss of Rs.7 crore and 46% drop in other income and 23% increase in tax outgo.