Ajanta Pharma posts marginal rise in net profit

PTI New Delhi | Updated on January 09, 2018

Ajanta Pharma has reported a marginal rise in consolidated net profit at Rs 131.89 crore for the second quarter ended September 30, 2017.

The company had posted a net profit of Rs 130.66 crore in the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to BSE today.

Consolidated income from operations also rose to Rs 540.38 crore during the quarter under review against Rs 515.82 crore in the same period a year ago.

“Our India business has performed satisfactorily and we are seeing the recovery post GST reform. Similarly, emerging markets have posted satisfactory growth,” Ajanta Pharma Joint MD Rajesh Agrawal said.

In the US, the company is seeing the effect of the customer consolidation resulting in price pressure, he added.

“With the launch of newer products, we are hopeful to improve the performance in the US in coming quarters,” Agrawal said.

For the second quarter of 2017-18, the company had received three abbreviated new drug application (ANDA) final approvals, commercialised two products and filed 4 ANDAs with US health regulator.

Shares of Ajanta Pharma were trading at Rs 1,250.10 per scrip, up 1.37 per cent, on the BSE.

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Published on October 31, 2017
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