The Hindu Business Line : Ajanta Pharma sales, profit up on export growth

Pharmaceutical formulation company, Ajanta Pharma, continued its growth in the third quarter on the back of robust exports. It posted a growth of 25 per cent in sales at Rs 88.63 crore during the nine months ended December 2003 compared to Rs 70.64 crore in the same period of last year.

This was on the back of a strong 57 per cent growth in exports, which had contributed 71 per cent of the total turnover. The sales for the third quarter were at Rs 32.79 crore (Rs 27.80 crore) indicating a growth of 18 per cent over the same period of previous year.

Ajanta Pharma's cash profit had increased to Rs 8.88 crore (Rs 7.67 crore) for the nine months period, indicating a growth of 16 per cent. The net profit for the same period stood at Rs 2.34 crore exceeding the net profit of the whole of last year, which was Rs 2.27 crore. The net profit for the quarter ended December 2003 was at Rs 1.05 crore (Rs 0.78 crore). Ajanta Pharma is among the first companies in India to launch "Ezemibe", the latest drug for lowering cholesterol in heart patients.