Ajanta Pharma soars on stellar performance in Q3

Q3 net profit up 76% year-on-year at Rs 32.57 crore on back of 40% rise in net sales at Rs 226 crore.

Ajanta Pharma is locked in 20% upper circuit at Rs 491, also its 52-week high, after reporting 76% year-on-year (yoy) growth in net profit at Rs 32.57 crore for the third quarter ended December 31, 2012 (Q3) on account of higher sales income.

“Net sales grew 40% at Rs 226 crore, while operating profit surged by 76% to Rs 60 crore in Q3 over same quarter of last year,” Ajanta Pharma said in a statement.

The company recently received marketing authorization in UK for Sildenafil Tablets 50mg and 100 mg, expects to launch the same when it goes off patent in June 2013.

 

The company has also filed 2 more ANDAs with US FDA, taking the tally of ANDAs pending approval to 9, it added.

The stock opened at Rs 410 and hit a low of Rs 406 on NSE. As many as a combined 1.75 million shares have already changed hands on the counter till noon deals against an average sub 70,000 shares that were traded daily in past two weeks.

There are a combined pending buy orders for 117,275 shares on both the exchanges at 1204 hours.