Ajanta Pharma has zoomed 17% to Rs 855 on reporting nearly three-fold jump in net profit at Rs 56 crore for the quarter ended September 2013 (Q2) on back of strong revenue growth. The pharmaceutical company had profit of Rs 21.88 crore in year ago quarter.
The company’s revenue from operations grew 50% year on year at Rs 280 crore against Rs 186 crore in the corresponding quarter of previous fiscal. Exports contributed 64% of the total operating income for the quarter.
EBITDA margin improved 700bps at 30% against 23% of Q2 last year, Ajanta Pharma said in a statement.
The company filed 3 more Abbreviated New Drug Application (ANDAs) with US FDA during the quarter taking total tally to 18 ANDAs (2 approved and 16 awaiting approval).
"We are pleased with healthy results for the quarter driven by India and emerging markets. We remain focused on select speciality therapeutic segments in India and select geographies in overseas market,” said Yogesh Agrawal, managing director, Ajanta Pharma.
The stock opened at Rs 733 and touched 52-week high of Rs 859 on the NSE. A combined around 950,000 shares have changed hands on the counter so far on BSE and NSE.
The company’s revenue from operations grew 50% year on year at Rs 280 crore against Rs 186 crore in the corresponding quarter of previous fiscal. Exports contributed 64% of the total operating income for the quarter.
EBITDA margin improved 700bps at 30% against 23% of Q2 last year, Ajanta Pharma said in a statement.
The company filed 3 more Abbreviated New Drug Application (ANDAs) with US FDA during the quarter taking total tally to 18 ANDAs (2 approved and 16 awaiting approval).
"We are pleased with healthy results for the quarter driven by India and emerging markets. We remain focused on select speciality therapeutic segments in India and select geographies in overseas market,” said Yogesh Agrawal, managing director, Ajanta Pharma.
The stock opened at Rs 733 and touched 52-week high of Rs 859 on the NSE. A combined around 950,000 shares have changed hands on the counter so far on BSE and NSE.