Ajanta Pharma a Rs.2,000 crore Mumbai based pharma major, has registered small growth of 3.4 per cent in consolidated net profit during the third quarter ended December 2017 at Rs.147 crore as against Rs.143 crore in the corresponding period of last year. Its net sales increased by 10.1 per cent to Rs.587 crore from Rs.533 crore. EPS worked out to Rs.16.76 as against Rs.16.19 in the last period.
Yogesh Agrawal, managing director, said,”We are pleased with our branded generic business performance in emerging markets which has posted healthy growth, in line with our expectation. We continue to maintain our aggression on the branded generic business by launching new products, increasing the productivity and increasing the coverage. Despite the challenging price erosion environment in US market, we have performed well during the quarter. We continue to build world class facilities to meet our growth requirements. Second phase of our Guwahati facility is nearing completion.”
Ajanta's branded generic sales in India was Rs.160 crore, growth of 4 per cent. Its export sales improved by 15 per cent to Rs.415 crore. African sales declined by 14 per cent to Rs.180 crore. However its sales in Asia improved by 79 per cent to Rs.161 crore. Its US sales improved by 21 per cent to Rs.71 crore.
Its R&D expenditure was at Rs.43 crore and worked out 7 per cent of operating revenue. It received final ANDA approval and it filed one ANDA during the third quarter. It commercialised 2 products and currently its 17 products are in the market. So far it received 20 final and tentative ANDA approvals. It is planning to file 10-12 ANDAs during this financial year.
For the nine months ended December 2017, Ajanta's consolidated net sales improved by 4.9 per cent to Rs.1,600 crore from Rs.1,525 crore in the same period of last year. However, its net profit declined by 4.8 per cent to Rs.374 crore from Rs.393 crore. Its domestic sales increased marginally by one per cent to Rs.481 crore during nine months. Its exports improved by 8 per cent to Rs.1,086 crore and Africa contributed Rs.567 crore, de-growth of 2 per cent. Its US sales increased by 9 per cent to Rs.152 crore and that in Asia improved by 29 per cent to Rs.361 crore. Its R&D expenditure increased by 9 per cent to Rs.138 crore from Rs.114 crore.
Ajanta scrip declined by 4.9 per cent to Rs.1,494.40 after announcement of financial working for nine months from its previous day's close of Rs.1,571.05. The scrip reached intera-day high at Rs.1,581 on BSE.
Ajanta pharma, q3
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