Mumbai, July 26: Ajanta Pharma has applied for 11 patents, of which four are from natural sources and seven are in new drug delivery systems (NDDS). The pharmaceutical company has received patents from the US, South Africa and India, for its product Carofit, an anti-oxidant from Carrots.The company's decision to focus on its core competence in pharmaceutical formulations by exiting from its bulk drug business has improved its bottomline.
Net profit rose to Rs 2.34 crore for the quarter ended June 2000, as against Rs 12 lakh in the corresponding quarter in the previous year. Net sales, however, declined by 15 per cent to Rs 22.90 crore from Rs 26.90 crore for the same period.
The improved bottomline is also attributed to the reduction in interest cost by 27 per cent and depreciation by 50 per cent over its corresponding quarter after the successful completion of its initial public offer in March, 2000.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.