Ajanta Pharma on Tuesday registered its Q2 profit at Rs 195.30 crore, up 24.7 per cent in comparison to Rs 156.60 crore during the same period last year. It posted revenue from operations at Rs 1,028.44 crore, up 9.6 per cent as against Rs 938.10 crore during the second quarter of FY23. The company EBITDA stood at Rs 290.4 crore, up 48 per cent on-year.
While the total income was recorded at Rs 1,049.77 crore, Ajanta Pharma incurred during the period was at Rs 773.83 crore. The company recorded total R&D expenses during Q2FY24 at Rs 50 crore as against Rs 59 crore during the year ago period. This is 5 per cent of the total revenue.
Ajanta Pharma’s Q2 performance across key markets
In terms of branded generic business, Ajanta Pharma posted Q2FY24 sales at Rs 743 crore, up 4 per cent from Rs 711 crore during Q2FY23. The India business recorded Q2 sales at Rs 355 crore, up 13 per cent from Rs 314 crore last year. As per secondary market data of IQVIA MAT September 2023, Ajanta’s growth was 14 per cent versus IPM growth of 10 per cent. Therapeutic growths comprised of cardiology segment growth of 9 per cent, ophthalmology growth of 18 per cent, dermatology growth at 20 per cent and pain management segment posting 21 per cent growth. Asia posted Q2FY24 sales at Rs 230 crore, down 8 per cent from Rs 251 crore during Q2FY23. And Africa business registered Q2 sales at Rs 157 crore, up 8 per cent on-year.
Meanwhile, US generic business recorded Q2 sales at Rs 237 crore, up 28 per cent as against Rs 185 crore during the same period last year. During the H1, Ajanta Pharma received 6 ANDA final approval and filed 5 ANDAs. “Out of 52 final ANDA approvals, we have commercialized 42 products. We hold 2 tentative approvals and 21 ANDAs are awaiting US FDA approval,” it said.
Further, the Africa institution business posted Q2 sales at Rs 37 crore, up 14 per cent from Rs 33 crore last year.