Shares of Ajanta Pharma today surged 8.5 per cent after the company posted an over two-fold increase in net profit in the fourth quarter.
The stock climbed 8.47 per cent to settle at Rs 1,060.45 on the BSE after climbing as much as 16.46 per cent to Rs 1,138.60, a 52-week high.
On the National Stock Exchange, the stock rose 8.55 per cent to close at Rs 1,060.
Ajanta Pharma said today profit more than doubled to Rs 70.09 crore in the three months ended March 31, primarily on the back of robust sales in the domestic market. The company had reported a profit of Rs 27.09 crore a year earlier.
Net sales in the quarter rose to Rs 301.14 crore from Rs 249.21 crore in the same period a year ago, Ajanta Pharma said in a filing to the BSE.
For the year ended March 31, the company posted a consolidated net profit of Rs 233.88 crore, an over two-fold increase from Rs 112.11 crore in 2012-13. Net sales rose to Rs 1,178.29 crore in the previous financial year from Rs 920.14 crore.
