Shares of Aurobindo Pharma are up over 3% by Rs. 32 a share and are currently trading at 1,033 a piece, having receded from the new 52 week high of 1,043 made a while back. The Hyderabad based pharma company has reported strong performance for the second quarter this morning with 82% YoY rise in formulations sales, which account for 76% of its turnover.

Q2 consolidated income surged 50% YoY to Rs. 2,881 crore, while operating profit jumped 45% to Rs. 637 crore, as the US generics business performed well due to company’s focus on complex molecules and differentiated technology platforms. On a sequential basis, revenue remained flat (Rs. 2,911 crore in Q1FY15) while net profit declined 10% to Rs. 372 crore from Rs. 415 crore in Q1 mainly in account of forex loss of Rs. 42 crore in the quarter gone by. Exports form a significant 87% of revenues. For this one-off, the performance was in-line.

EPS for H1FY15 stands at Rs. 27 (Q2 EPS of Rs. 12.76), while that for FY14 stood at Rs. 40. Thus, company is clocking close to 34% growth in bottomline in the current fiscal. With current market cap of little over Rs. 30,000 crore, the share is trading at PE multiple of close to 19 times.