Ajanta Pharma Q3 net profit up 3 percent at Rs 147.47 crore

New Delhi: Drug firm Ajanta Pharma reported a 3.41 percent rise in its consolidated net profit to Rs 147.47 crore for the quarter ended December 31, 2017.

The company had posted a net profit of Rs 142.60 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a BSE filing.

Consolidated revenue from operations also rose to Rs 587.05 crore for the quarter under consideration as against Rs 533.11 crore in the same period a year ago.

"We are pleased with our branded generic business performance in emerging markets which has posted healthy growth, in line with our expectation," Ajanta Pharma Managing Director Yogesh Agrawal said.

The company continues to maintain aggression on the branded generic business by launching new products, increasing the productivity and increasing the coverage, he added.

"Despite the challenging price erosion environment in the US market, we have performed well during the quarter," Agrawal said.

In the third quarter this fiscal, the company received one abbreviated new drug application (ANDA) final approval, commercialized two products and filed one ANDA with the United States Food and Drug Administration (USFDA), it added.