Ajanta Pharma spurted 5.27% to Rs 1,838.15 after consolidated net profit soared 64.2% to Rs 176.63 crore on 15% increase in net sales to Rs 748.74 crore in Q3 December 2020 over Q3 December 2019.
Consolidated profit before tax (PBT) jumped 23.1% to Rs 215.47 crore in Q3 December 2020 as against Rs 175.10 crore in Q3 December 2019. Current tax expenses for the quarter dropped 33.3% to Rs 42.32 crore as against Rs 63.44 crore paid in Q3 December 2019. The Q3 result was declared after market hours yesterday, 2 February 2021.
Consolidated EBITDA grew 30% Y-o-Y (year-on-year) to Rs 242 crore in Q3 FY21 as against Q3 FY20, which was 32% of revenue from operations. The Q3 FY21 India sales surged 13% to Rs 220 crore as against Rs 195 crore in Q3 FY20. The Q3 FY21 total export sales stood at Rs 524 crore over Rs 448 crore in Q3 FY20, recording a growth of 17% Y-o-Y.
As per IQVIA MAT December 2020, Ajanta Pharma has posted a healthy growth of 13% in Cardiology (segment growth of 14%), declined 2% in Ophthalmology (segment de-growth of 3%), 3% rise in Dermatology (segment growth of 4%) and 14% jump in Pain Management (segment de-growth of 1%).
During the quarter, R&D expenses was at Rs 40 crore in Q3 FY21 from Rs 35 crore in Q3 FY20, which is 5% of revenue from operations.
Ajanta Pharma is a speciality pharmaceutical formulation company having branded generic business in India and emerging markets, generic business in US and institution business in Africa.
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