 "Ajanta Pharma zooms on robust Q3 results; stock split plan")
Ajanta Pharma has zoomed 14% to Rs 2,720 on BSE after reporting a strong 36% year on year jump in net profit at Rs 85 crore for the third quarter ended December 31, 2014 (Q3), on back of strong revenue growth. The drug maker had profit of Rs 62 crore in a year ago quarter.
Revenue from operations grew 21% at Rs 363 crore against Rs 301 crore in the corresponding quarter of previous fiscal. EBITDA or operating profit margin expanded nearly 400 bps to 36.24% against 32.31%.
Ajanta Pharma said, its Dahej formulation facility (oral solids) implementation has been completed and is undergoing qualification. The company expects to take regulatory filing batches from Q1 FY6 onwards.
Meanwhile, the board has approved sub-division of nominal value of equity shares of the company from Rs 5 each to nominal value of Rs 2 each.
The stock opened at Rs 2,412 and hit a new high of Rs 2,749 on BSE. The trading volumes on the counter more than doubled with a combined 449,934 shares changed hands till 1419 hours on BSE and NSE.
Revenue from operations grew 21% at Rs 363 crore against Rs 301 crore in the corresponding quarter of previous fiscal. EBITDA or operating profit margin expanded nearly 400 bps to 36.24% against 32.31%.
Ajanta Pharma said, its Dahej formulation facility (oral solids) implementation has been completed and is undergoing qualification. The company expects to take regulatory filing batches from Q1 FY6 onwards.
Meanwhile, the board has approved sub-division of nominal value of equity shares of the company from Rs 5 each to nominal value of Rs 2 each.
The stock opened at Rs 2,412 and hit a new high of Rs 2,749 on BSE. The trading volumes on the counter more than doubled with a combined 449,934 shares changed hands till 1419 hours on BSE and NSE.
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