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Ajanta Pharma Q2 net up marginally at Rs 132 cr

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

medicine, pharma, drugs
Press Trust of India New Delhi
Last Updated : Oct 31 2017 | 2:45 PM IST
Ajanta Pharma on Tuesday reported a marginal rise in consolidated net profit to Rs 131.89 crore for the second quarter ended September 30, 2017.

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

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

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"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 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 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 today trading at Rs 1,250.10 per scrip, up 1.37 per cent, on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 31 2017 | 2:22 PM IST

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