Ajanta Pharma PAT jumps 56% YoY to Rs 210 cr in Q3 FY24

The pharma major's consolidated net profit jumped 56.14% to Rs 210.03 crore in Q3 FY24 as compared with Rs 134.51 crore posted in Q3 FY23.

Revenue from operations jumped 13.72% year on year (YoY) to Rs 1,105.15 crore in the quarter ended 31 December 2023.

During the quarter, EBITDA stood at Rs 314 crore as against Rs 170 crore posted in corresponding quarter last year.

In Q3 FY24, revenue from India stood at Rs 308 crore (up 5% YoY), Asia was at Rs 292 crore ( up 28% YoY), Africa stood at Rs 155 crore (up 7% YoY) while revenue from United States was at Rs 252 crore ( down 5% YoY).

The company stated that it R&D expenses were at Rs 52 crore in Q3 FY24 as compared with Rs 61 crore posted in Q3 FY23, up 5% of revenue.

Meanwhile, the companys board has approved second interim dividend of Rs 26 per share for financial year 2023-2024. The record date for the dividend is fixed on Thursday, 8 February 2024. The payment of the dividend will be on or after 19 February 2024.

Ajanta Pharma is a specialty pharmaceutical formulation company primarily with a well-diversified branded generics business spread across India, the Rest of Asia, and Africa. The company is involved in development, manufacturing and marketing of marketing of quality finished dosages in domestic and international markets. It produces a comprehensive range of specialty products targeting different therapeutic segments.

The scrip rose 0.07% to Rs 2,171.50 on the BSE.

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