Ajanta Pharma Q2 net grows marginally at Rs 132 cr

New Delhi: Ajanta Pharma reported a marginal rise in consolidated net profit to Rs 131.89 crore for the second quarter ended September 30, 2017.

The company had posted a net profit of Rs 130.66 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to BSE.

Consolidated income from operations also rose to Rs 540.38 crore for the quarter under review as against Rs 515.82 crore for the same period a year ago.

"Our India business has performed satisfactorily and we are seeing the recovery post-GST reform. Similarly, emerging markets have posted satisfactory growth," Ajanta Pharma Joint MD Rajesh Agrawal said.

In the US, the company is seeing the effect of the customer consolidation resulting in price pressure, he added.

"With launch of newer products, we are hopeful to improve the performance in the US in coming quarters," Agrawal said.

For the second quarter of 2017-18, the company received three abbreviated new drug application (ANDA) final approvals, commercialised two products and filed 4 ANDAs with US health regulator.

Shares of Ajanta Pharma were trading at Rs 1,250.10 per scrip, up 1.37 percent, on BSE.