Ajanta Pharma Posts Rs 99-Lakh Net Profit In March-quarter

Mumbai, May 30: | Updated: May 31 2002, 05:30am hrs
Ajanta Pharma has posted a net profit of Rs 99 lakh for the fourth quarter ended March 2002 as compared to a net loss of Rs 1.59 crore for the corresponding quarter last year. Turnover grew by 80 per cent to Rs 24.15 crore during the quarter, an Ajanta Pharma release said.

The quarter under review has seen a growth of 160 per cent and 287 per cent over the preceding third quarter and second quarter, respectively.

The growth is a result of consistent and continuous efforts of brand registration in different parts of the world, the release said.

For the year ended March 31, 2002, the two main business focus of domestic prescription drugs and direct exports have seen a growth of 85 per cent and 21 per cent, respectively, over the previous year.

This growth has improved the operating margin for the year by 100 basis points to 21 per cent over the previous year, the release said.

However, with the conscious decision of restricting the exposure to joint venture and subsidiaries, the turnover for the year ended March 31, 2002 has declined to Rs 73.50 crore as against Rs 80.62 crore last year. The company has established its presence in more than 40 countries where its products are available and has also built excellent marketing infrastructure in these overrseas markets, the release said.