Ajanta net up 278%, exports zoom 358%

Mumbai: India's leading research and development (R&D)-driven pharmaceutical company Ajanta Pharma has posted a sharp increase of 278 per cent in its net profit at Rs 21 lakh during the first quarter ended June 2002 compared to Rs 8 lakh registered in the corresponding period last year.

The gross profit shot up by 64 per cent to Rs 4.69 crore and the cash profit has seen an increase of 105 per cent to Rs 1.98 crore.

The company's exports went up by 358 per cent during the first quarter. The company has recorded sales of Rs 17.95 crore during the quarter under review as against Rs 13.08 crore in the Q1 of the last fiscal, indicating a growth of 37 per cent. The company launched seven new products during the year.

The company's operating margins have gone up by 400 basis points to 26 per cent on the back of increased exports and the sale of branded products. Exports contributed 50 per cent of the total sales as compared to 12 per cent in the first quarter of the previous year.

Says Ajanta Pharma managing director Purshottam Agrawal: "Our business strategy of focusing on product registration, field expansion and creating a stronger marketing infrastructure in markets abroad has already started yielding results."

Ajanta Pharma is engaged in manufacturing and marketing pharmaceutical products in different parts of the world. The company's major focus is on innovative R&D products. The company provides therapeutic solutions for pain management, neutraceutical, premium antibiotics, diabetes and cardiovascular disorders.