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Ajanta Pharma share price soars over 13.5% to new all-time high
Ajanta Pharma share price: Ajanta Pharma recorded a 66 per cent on year spike in consolidated net profit to ₹202.72 crore for the January-March period.
Ajanta Pharma share price: Shares of Ajanta Pharma rose 14 per cent and hit its 52-week high of ₹2,540 today (May 3) following company's significant March quarter earnings along with its buyback plans. The company's board approved its fourth buyback plans in four years along with its Q4 results through which the drugmaker will repurchase up to 10.28 lakh equity shares- 0.82 per cent of the total outstanding shares of the company.
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The company has fixed buyback price at ₹2,770, offering a 24.5-per cent premium to the stock's previous close.
Ajanta Pharma Q4 results
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Ajanta Pharma recorded a 66 per cent on year spike in consolidated net profit to ₹202.72 crore for the January-March period. This was up from last fiscal's ₹122.25 crore as revenue grew 20 per cent year-on-year to ₹1,054.08 crore which was up 20 per cent from ₹881.84 crore, a year ago.
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US generics, which makes up 25 per cent of sales, delivered a 32-per cent on year growth. Asia branded generics, which accounts for 18 per cent of revenue, posted 18 per cent on year rise, the company said.
