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Ajanta Pharma Ltd (APL) has reported a 31 per cent increase in revenue and near doubling of net profit in Q3 of the current fiscal compared to the same quarter last year on a standalone basis.
The company, with a string of brands focussing on ophthalmology, dermatology and cardiology segments, has derived nearly two-thirds of its income from exports, while the balance was from the sale in domestic market in the quarter ended December 31, 2013.
Total income
The company’s total income from operations was Rs 300.85 crore in Q3 of current FY (including Rs 8.26 crore as other operating income) compared with Rs 229.34 crore in the corresponding quarter last year, a 31 per cent growth.
Profit after tax was higher at Rs 62.42 crore against Rs 32.57 crore in the same quarter last year, a gain of 92 per cent. PAT to revenue was 21 per cent during the third quarter of this year compared with 14 per cent during the same period previous fiscal.
During April-December, the company’s revenue was Rs 798.87 crore compared with Rs 589.76 crore in the first nine months of 2012-13, a 35 per cent growth.
PAT during this period more than doubled to Rs 150.77 crore (Rs 74.03 crore). Share of exports in the third quarter of this year was 65 per cent of the turnover and in the first nine months, exports contributed 61 per cent of the operating income.
Biz performance
Rajesh Agrawal, Joint Managing Director, Ajanta Pharma, said the company had a good quarter fuelled by strong business performance” within India and in emerging markets.
During the third quarter, the lndia business was worth Rs 98 crore, an increase of 38 per cent over Q3 of last year. Exports accounted for Rs 195 crore, a 26 per cent increase over the same quarter last year.
APL’s shares were trading at Rs 928.80, a loss of Rs 7.75, on the NSE. The stock price has nearly trebled from its low of Rs 325.37 it touched on January 25 this year.
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