Ajanta Pharma Q1 Net Up 278%

New Delhi, July 29: | Updated: Jul 30 2002, 05:30am hrs
Ajanta Pharma has reported a 278 per cent rise in net profit to Rs 21.14 lakh during first quarter ended June 2002, up from Rs 7.6 lakh reported in the corresponding quarter of last year. Turnover during the quarter at Rs 1795 lakh was up by 37 per cent over Rs 1308 lakh reported during the corresponding period last year.

Operating margins increased to 26 per cent on the back of improvement in exports and better sales of branded formulations. Exports during the quarter shot up by 358 per cent and export contribution during the quarter stood at 50 per cent of total sales against the level of 12 per cent last year.

“Our business strategy of focussing on product registration, field expansion and creating a stronger marketing infrastructure in markets abroad has started yielding results,” the company said.