Ajanta Pharma today reported 17.13 per cent decline in profit after tax (PAT)at Rs 94.49 crore for the quarter ended March 31, 2018 impacted by decline in institutional business in Africa.
The company had posted PAT of Rs 114.02 crore in January-March 2016-17, Ajanta Pharma said in a BSE filing.
Revenue from operations stood at Rs 530.31 crore in the quarter under review. It was at Rs 476.81 crore in the year-ago period.
Ajanta Pharma said revenue from operations were not comparable over previous year due to implementation of GST from July 1 last year as sales have been recorded as net of GST whereas earlier sales were recorded gross of excise duty which formed part of expenses.
Ajanta Pharma Managing Director Yogesh Agrawal said:"During the quarter, we have performed well in the Africa branded generic space. Whereas branded generic business in India and Asia performed below our expectations."