Ajanta Pharma Q2 net up 26% at Rs 130.66 crore

Shares of the company were trading at Rs 1,967.45 a scrip in afternoon trade on BSE, down 1.33% from previous close

Drug firm Ajanta Pharma, on Wednesday, reported a 26.31 per cent rise in consolidated net profit to Rs 130.66 crore for the second quarter ended September 30, 2016, mainly on account of robust sales.

The company had posted a net profit after tax, minority interest and share of profit of associates of Rs 103.44 crore for the same period of the previous financial year, Ajanta Pharma said in a filing to BSE.

Consolidated total income from operations also rose to Rs 515.82 crore for the quarter under consideration as against Rs 441.70 crore for the corresponding quarter a year ago.

Commenting on the results, Ajanta Pharma MD Yogesh Agrawal said: "Our India business continues to post robust growth across various specialities we operate in displaying above industry growth rates."

The company is excited with the robust performance in US during the quarter which was backed by successful launches of a number of products. With some more launches in pipeline, it is optimistic of the US market performance for the rest of the year, he added.

With the foreign currency volatility and scarcity, emerging markets continue to face headwinds which is reflected in this quarter's results, Agrawal said.

Shares of Ajanta Pharma were today trading at Rs 1,967.45 a scrip in afternoon trade on BSE, down 1.33 per cent from previous close.