Ajanta Pharma, a Rs.1,000 crore plus pharma major from Mumbai, has registered strong growth in top line and bottom line during the second quarter ended September 2014 and its net profit went up sharply by 40.9 per cent to Rs.78.63 crore from Rs.55.81 crore in the similar period of last year. Its net sales also moved up by 22.3 per cent to Rs 331.19 crore from Rs.270.79 crore. EPS touched to Rs.22.35 as against Rs.15.88 in the last period.

With strong growth in profits, Ajanta scrip touched to its yearly high level at Rs.1946.75 in the afternoon session on BSE today. The scrip improved by Rs.80.65 or 4.5 per cent to Rs.1894.

The domestic sales increased by 19.7 per cent to Rs.117.63 crore from Rs.98.30 crore and its international sales increased by 24.2 per cent to Rs.216.50 crore from Rs.174.30 crore. Exports worked out to almost 65 per cent of its total sales. Africa contributed Rs.112 crore with growth of 22 per cent and Asia Rs.101 crore. However, its sales in Latin America declined by 47 per cent to Rs.3 crore. The company launched 12 new products in emerging markets. Its R&D expenditure increased to Rs.19 crore from Rs 13 crore in the corresponding quarter of last year.

Yogesh M Agrawal, managing director, said, “We are pleased to add yet another strong quarter to the current financial year. Our business performance remained aligned to our plans in all the markets that we operate in. Our consistent focus on high quality business and improvement in efficiencies has led to higher margins. Using our prudent judgment, we are continuously making he required investments in infrastructure manufacturing facilities and R&D anticipating tomorrow's requirements.”

For the first half ended September 2014, Ajanta's net sales increased by 25.9 per cent to Rs.611.98 crore from Rs.486.14 crore in the same period of last year. Its net profit has taken quantum jump and touched to Rs.137.35 crore from Rs.88.35 crore. Its exports increased to Rs.378.23 crore from Rs.293.68 crore, a growth of 28.8 per cent, contributing 61.3 per cent to its total sales. Its sales in emerging markets went up by 28 per cent to Rs.376 crore. The company's sales in Africa touched to Rs.204 crore with growth of 30 per cent. Ajanta continues to strengthen its brand presence in various emerging markets. It has a pipeline of about 1,700 products under registration paving the way for sustained growth in these markets.

Its R&D expenditure during the first half reached at Rs.30 crore as compared to Rs.24 crore in the last period. It has 23 ANDAs under review with US FDA. Recently, it entered US market with its maiden product. Its R&D centre for formulation development is located at Mumbai having a team of over 350 people and its four facilities are located in India and one in Mauritius.