Drug firm Ajanta Pharma Wednesday reported a 54.63 per cent dip in consolidated net profit to Rs 66.90 crore for the December 2018 quarter.
The company had posted a net profit of Rs 147.47 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to the BSE.
Consolidated revenue from operations of the company stood at Rs 485.11 crore for the quarter, against Rs 587.05 crore for the corresponding period a year ago.
In a separate filing, the company said its board has approved a proposal for buyback of not exceeding 7.69 lakh shares at a price of Rs 1,300 per share in cash for an aggregate consideration not exceeding Rs 100 crore.
Ajanta Pharma Managing Director Yogesh Agrawal said: "This quarter was a bit challenging for the company which was the result of pipeline filling in corresponding quarter of previous year which got normalised."
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