Ajanta Pharma, a speciallty focused pharmaceuticals formulation Mumbai based company, has posted strong financial performance during the third quarter ended December 2011. Its net profit has taken jump of 54.9 per cent to Rs.18.51 crore from Rs.11.95 crore in the corresponding period of last year and its net sales went up by 36 per cent to Rs.163.90 crore from Rs.120.51 crore. Its EBDITA also moved up by 46.5 per cent to Rs.34.38 crore from Rs.23.47 crore. With better improvement in profits, its earnings per share touched to Rs.15.81 as against Rs.10.21 in the last period.

Yogesh Agrawal, managing director, said, “We are pleased with our all rounded Q3 performance in terms of sales and profits. In Indian market, with strong thrust, we continue to build leadership positions in the sub-therapeutic areas into the speciality segments. In International markets, we continue our focus on select countries with wider product portfolio building into sustainable and profitable business.”

In order to meet the growing market demand, company is adding additional manufacturing capacities in coming year which will be funded through internal accrual and debt. It received US FDA approval for two ANDAs and expect to start the sales into US by Q1 of next year. Besides the two approved ANDAs, it has already filed 5 ANDAs with US FDA which are under review. It expects to file another three ANDAs in Q4 of the current year.

For the first nine months ended December 2011, Ajanta achieved net sales growth of 28.7 per cent to Rs.426.34 crore from Rs.331.30 crore in the similar period of last year. Its net profit also went up by 48 per cent to Rs.42.89 crore from Rs.28.97 crore with EPS of Rs.36.63 as compared to Rs.24.75 in the last period.