Ajanta Pharma Achieves Excellent Growth Q3 Profit After Tax up 55%

Jan. 24, 2012 - PRLog -- Mumbai – (January 24, 2012) – Ajanta Pharma Limited, a specialty focused pharmaceutical formulation company, has posted 55% increase in net profit for the third quarter of FY 2011-12.  The Profit after Tax stood at Rs. 18.51crores (Rs.11.95crores) for the quarter ended December 31, 2011. Net sales for the quarter stood at Rs. 163.90crores (Rs.120.51crores), an excellent growth of 36% over same period of previous year.  Profit After Tax for the nine months ended December 31, 2011 stood at Rs. 42.89crores against Rs.28.98crores last year same period, a growth of 48%. Net sales for the nine months stood at Rs.426.34crs. (Rs.331.30crs.), a growth of 29% for the period.

Commenting on results, Mr. Yogesh Agrawal, Managing Director, Ajanta Pharma Limited said “We are pleased with our all rounded Q3 performance in terms of sales and profits.  In Indian market, with strong thrust, we continue to build leadership positions in the sub-therapeutic areas into the speciality segments.  In International markets, we continue our focus on select countries with wider product portfolio building into sustainable and profitable business.”

In order to meet the growing market demand, company shall be adding additional manufacturing capacities in coming year which will be funded through internal accrual and debt.  In USA, company has already obtained the approval for 2 ANDA’s and expect to start the sales into US by Q1 of next year for the same.  Besides the 2 approved ANDA’s, company has already filed 5 ANDA’s with US FDA which are under review.  Company expects to file another 3 ANDA’s in Q4 of the current year with US FDA.  “Steadily, we are building our ANDA portfolio in the US market which shall assure sustained growth in coming years” he said.

About Ajanta pharma

Ajanta Pharma is a speciality pharmaceutical formulation company, having leading brands in the therapeutic segments of Ophthalmology, Dermatology and Cardiology. Many of the company’s products are first of its kind and are leading in their sub therapeutic segments.  Company exports its products to more than 25 countries and established strong brand equity in these markets. For last 10 years, company’s consolidated performance has been excellent with CAGR of 21% in sales and 37% in net profit.

Ajanta Pharma has its State of the Art R&D centre located at Mumbai, with more than 200 scientists working for formulation development.  The company has world class manufacturing facilities - four located in India and one at Mauritius.  One of the manufacturing facilities at Aurangabad is approved by US FDA, UK MHRA and World health organisation (WHO), apart from having the approval from FDA of many other countries.

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Ajanta Pharma Limited is one of the leading Indian Pharmaceutical companies in specialty care, marketing pharmaceutical formulations worldwide. IMS (ORG) ranks Ajanta Pharma amongst the top 10 fastest growing pharmaceutical companies in India.