Ajanta Pharma spurted 10.58% to Rs 2,649 at 14:40 IST on BSE after net profit rose 36% to Rs 85 crore on 21% growth in revenue from operations to Rs 363 crore in Q3 December 2014 over Q3 December 2013.
The Q3 result was announced during market hours today, 28 January 2015.
Meanwhile, the S&P BSE Sensex was down 124.37 points or 0.42% at 29,446.67.
The stock surged on high volumes. On BSE, so far 1.07 lakh shares were traded in the counter as against average daily volume of 9,821 shares in the past one quarter.
The stock hit a high of Rs 2,749 so far during the day, which is a record high for the counter. The stock hit a low of Rs 2,407.25 so far during the day. The stock had hit a 52-week low of Rs 892.30 on 27 January 2014.
The stock had underperformed the market over the past one month till 27 January 2015, advancing 0.73% compared with the Sensex's 8.55% rise. The stock had, however, outperformed the market in past one quarter, jumping 28.35% as against Sensex's 10.53% rise.
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The mid-cap company has equity capital of Rs 17.59 crore. Face value per share is Rs 5.
Ajanta Pharma's EBITDA (earnings before interest, taxation, depreciation, and amortization) rose 32% to Rs 131 crore in Q3 December 2014 over Q3 December 2013.
Commenting on the company's Q3 results, Mr. Rajesh Agrawal, Jt. Managing Director, Ajanta Pharma said, "We are pleased with the results of yet another sound quarter. All our growth drivers are performing as per our plans and expectations. We continue to post above industry growth in India and emerging markets in our branded generic business segment. Our Dahej formulation facility (oral solids) implementation has been completed and is undergoing qualification. We expect to take regulatory filing batches from Q1 FY 2016 onwards. Addition of this facility will ensure that we have adequate capacities to cater to our growths in coming years".
Ajanta Pharma's board of directors at a meeting held today, 28 January 2015, approved sub-division of equity shares of face value of Rs 5 each to shares of face value of Rs 2 each.
Ajanta Pharma - a speciality pharmaceutical formulation company has leading brands in therapeutic segments of ophthalmology, dermatology, cardiology and pain management.
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