Ajanta Pharma net profit increases 66 percent to Rs 203 crore in Q4

Written by Ruchika Sharma Published On 2024-05-03T14:47:27+05:30 | Updated On 3 May 2024 2:47 PM IST

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New Delhi: Ajanta Pharma witnessed a surge in its consolidated net profit, which soared by 66 percent to Rs 203 crore in the March quarter. This growth was attributed to strong sales performance in both domestic and international markets.

The drugmaker had reported a net profit of Rs 122 crore in the January-March quarter of the previous fiscal.

Revenue from operations rose to Rs 1,054 crore in the fourth quarter of FY24 as compared with Rs 882 crore in the year-ago period, Ajanta Pharma said in a regulatory filing.

For the year ended March 31, 2024, the company posted a consolidated net profit of Rs 816 crore as against Rs 588 crore in the 2022-23 fiscal year.

Revenue from operations rose to Rs 4,209 crore for FY24 as compared with Rs 3,743 crore in FY23.

The company said it distributed Rs 642 crore to its shareholders in the form of dividend in FY24.

The drug firm generated a cash flow of Rs 812 crore and, given this financial position, the board of directors has approved the distribution of Rs 351 crore to shareholders in the form of a buyback.

The buyback will involve purchase of 10,28,881 equity shares at a price of Rs 2,770 per share, constituting 0.82 per cent of the total paid-up equity share capital.

Ajanta Pharma is a speciality pharmaceutical formulation company having major focus on branded generic business across India, Asia & Africa. The company has a ground presence in each of these 30+ countries.

The company’s state-of-the-art R&D centre is located in Mumbai. The company has 7 world-class manufacturing facilities located in India. For the last 5 financial years, the company has posted healthy performance with its Revenue from Operations growing at 16% CAGR and net profit at 11% CAGR.

Read also: Ajanta Pharma Sets a Record with India's Largest Photo Collage of CPR Workshops

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Source : with inputs

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751