Ajanta Pharma Ltd achieved a turnover of Rs 21.05 crore for the quarter ended December 2001 as against Rs 20.94 crore during the corresponding period of previous year. The company posted a net profit of Rs 0.63 crore for the quarter ended December 31, 2001 as compared to Rs 1.51 crore for the same period last year. Total income for the quarter ended December 31, 2001 is marginally higher at Rs 21.06 crore as compared to Rs 21.01 crore in the quarter ended December 31, 2000.
Interest expenditure increased from Rs 1.43 crore in DQ-00 to Rs 2.59 crore in DQ-01 and depreciation shot up from Rs 0.89 crore to Rs 1.03 crore. According to the company, the sharp increase in interest and depreciation has been mainly due to large outstanding from joint ventures and new capital expenditure in progress.
For the nine months ended December 2001, the turnover touched Rs 49.36 crore as against Rs 67.20 crore in the same period of previous year. The company posted a net profit at Rs 1.04 crore as against Rs 8.00 crore in the previous year.
During the quarter under review, the company had entered into marketing alliance with GNC, Philippines for distribution of its research products Livoplus through the chain of stores all over Philippines. With the increased number of product registration in different countries, the branded export business has seen a growth of 287 per cent during the quarter. The Ethi+care business also showed a healthy growth of 37 per cent. The company has stated that the investment in export business started yielding results with a growth of 45 per cent and its focus on innovative R&D products and brand exports is expected to further accelerate growth in the coming periods.