Ajanta Pharma Q3 net up 92% at Rs 62 cr

Company posted a net profit of Rs 33 crore for the same period of previous fiscal

Drug firm Ajanta Pharma today posted 91.64% rise in its net profit at Rs 62.42 crore for the third quarter ended December 31, 2013, on account of robust sales in the domestic and emerging markets.

The company had posted a net profit of Rs 32.57 crore for the same period of previous fiscal.

Net sales of the company rose to Rs 292.59 crore for the third quarter, as compared to Rs 225.68 crore in the same period of previous fiscal, Ajanta Pharma Ltd said in a filing to the BSE.

"We had a good quarter fuelled by strong business performance in India and emerging markets," Ajanta Pharma Joint Managing Director Rajesh Agrawal said.

During the quarter under review, the company's India revenues stood at Rs 98 crore, up 38% over the corresponding period of last fiscal.

Exports to emerging markets, including African and CIS countries, stood at Rs 195 crore during the quarter, a growth of 26%.

Shares of the company were trading at Rs 937.80 apiece on the BSE in late afternoon trade, up 0.27% from its previous close.