Ajanta Pharma's consolidated net profit declined by 20.7 per cent to Rs. 94.79 crore during the first quarter ended June 2017 from Rs. 119.55 crore in the similar period of last year. Its net sales declined marginally to Rs. 473 crore from Rs. 476 crore. EPS declined to Rs. 10.77 from Rs. 13.58 in the last period. Its R&D expenditure increased to Rs. 47 crore from Rs. 32 crore, which is 10 per cent of operating revenue. After announcement of lower profit, Ajanta scrip declined sharply by over 6 per cent or by Rs. 80 to Rs. 1216.60 on BSE.

Its India branded generic sales (excluding institution) declined by 14 per cent to Rs. 135 crore and its total domestic sales (institution declined by 12 per cent to Rs. 143 crore. However, its exports increased by 8 per cent to Rs. 321 crore despite lower sales in Africa. African sales contributed Rs. 168 crore. Its sales in Asia improved by 4 per cent to Rs. 96 crore. Its US sales increased significantly to Rs. 54 crore.

The company received one ANDA approval and filed one new ANDA during the quarter. It commercialized one product. With this it has 13 products commercialized out of 18 final ANDA approvals. Currently, 15 ANDAs awaiting approval with US FDA. Ajanta is planning to file 12-15 ANDAs during current financial year.

Commenting on the financial performance, Yogesh Agrawal, managing director, said, “India sales were adversely impacted due to de-stocking by the distribution channel on account of GST, which impacted overall financials of the company. Our export markets continue to perform at steady rate on the back of new product launches and increase in the market share. Our both manufacturing facilities have successfully undergone US FDA inspections paving way for ANDA approvals under review with US FDA. Our phase 2 construction at Guwahati is on target to be commissioned in Q4 of FY 2018”.