Drug firm Ajanta Pharma today reported a 4.64 per cent rise in its consolidated net profit at Rs 114.02 crore for the fourth quarter ended March 31, mainly on account of robust sales.
The company had posted a net profit of Rs 108.96 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to BSE.
Its consolidated total income rose to Rs 479.20 crore for the quarter under consideration as against Rs 435.65 crore for the same period year ago.
"Despite the demonetisation impact on the Indian pharma market, our India branded generic sales showed resilient growth. Rupee appreciation impacted the export sales growth and the profitability for the quarter," Ajanta Pharma MD Yogesh Agrawal said.
The phase 1 of company's Guwahati facility was implemented in record time and it commenced commercial production during the quarter, he added.
For the fiscal year ended March 31, the company posted a consolidated net profit of Rs 507 crore as against Rs 416 crore for the year-ago period.
Consolidated total income for the entire fiscal also rose to Rs 2,025.50 crore for the fiscal year ended March 2017. It was Rs 1,770.52 crore for the previous fiscal.
The company's board also recommended that interim dividends of Rs 6 per share and Rs 7 per share declared at the board meetings held on October 26, 2016 and March 18, 2017 respectively, be considered as final dividend for the year ended March 31, 2017, Ajanta Pharma said.
Shares of Ajanta Pharma were trading at Rs 1,666.50 per scrip in the afternoon trade on BSE, up 1.09 per cent from its previous close.
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