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Ajanta Pharma on Tuesday reported a 5.92 per cent decline in its consolidated net profit to Rs 88.89 crore for the March 2019 quarter, mainly on account of a decline in anti-malarial business.
The company had posted a net profit of Rs 94.49 crore for the corresponding period of the previous financial year, Ajanta Pharma said in a filing to the BSE.
Its consolidated revenue from operations fell to Rs 515.16 crore as compared with Rs 530.31 crore for the corresponding period a year ago.
“The decline in anti-malarial business impacted the performance of the quarter and the year,” Ajanta Pharma Managing Director Yogesh Agrawal said.
Other businesses have posted growth and continue to perform well, he added.
For full financial year 2018-19, the company’s consolidated net profit was Rs 387 crore, against Rs 469 crore for the corresponding period a year ago.
The firm posted revenue from operations of Rs 2,055 crore for the fiscal year ended March 2019. It was Rs 2,131 crore in the previous fiscal year.
Shares of Ajanta Pharma closed at Rs 989.45 per share on the BSE, down 3.80 per cent from its previous close.
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