Aanjaneya Lifecare, a Rs.475 crore Mumbai based pharma company, has suffered setback during the third quarter ended December 2012 due to higher provision for interest and depreciation. Its net profit declined by 13.9 per cent to Rs.10.45 crore from Rs.12.14 crore, though its net sales increased sharply by 35.6 per cent to Rs.145.86 crore from Rs.107.58 crore. The EBDITA also moved up by 13.3 per cent to Rs.29.89 crore from Rs.26.39 crore. The company's interest burden increased to Rs.12.42 crore from Rs.7.17 crore and depreciation went up to Rs.4.98 crore from Rs.1.05 crore. The earnings per share worked out to Rs.7.53 for the quarter as compared to Rs.10.49 in the last period.
For the nine months period ended December 2012, Aanjaneya's net sales jumped by 40.2 per cent to Rs.446.55 crore from Rs.318.81 crore in the similar period of last year. Its net profit moved up by 8.2 per cent to Rs.38.72 crore despite significant higher provision for depreciation and interest. Its EBDITA surged to Rs.104.83 crore from Rs.73.33 crore, a growth of 43 per cent. Its interest provision went up to Rs.32.72 crore from Rs.16.90 crore and depreciation to Rs.14.80 crore from Rs.2.83 crore.
Dr Kannan Vishwanath, chairman, said, “We have recorded good performance in a difficult period and the future is bright. We are seeing a promising period for the company one in which we could achieve our goals set towards customer satisfaction, quality standards and of course shareholder value.”
Aanjaneya Lifecare is a vertically integrated company having WHO GMP approved facilities for manufacturing bulk drugs at Mahad and finished dosage forms at Pirungut near Pune. The company raised about Rs.117 crore from its IPO and the funds are being used to built new capacities along with the refurbishing of R&D centre.