Ajanta Pharma shares soar over 12% on healthy earnings

Stocks of Ajanta Pharma today surged over 12 per cent after the company reported a 35.7 per cent increase in net profit for the quarter ended December.
Ajanta Pharma's scrip zoomed 11.95 per cent to settle at Rs 2,681.85 on the BSE. During the day, it soared 14.75 per cent to Rs 2,749 -- its 52-week high.
On the NSE, the stock jumped 12.33 per cent to close at Rs 2,689.
Boosted by the sharp surge in the stock, the company's market capitalisation rose by Rs 1,007.05 crore to Rs 9,434.05 crore.
Ajanta Pharma today reported 35.7 per cent increase in net profit at Rs 84.71 crore for the quarter ended December on account of robust sales in domestic market.

The company had posted a net profit of Rs 62.42 crore for the same period of previous fiscal.
Net sales of the company rose to Rs 356.28 crore for the third quarter as compared to Rs 292.59 crore for the same period of corresponding financial year, Ajanta Pharma Ltd said in a filing to the BSE.