Ajanta Pharma Q4 earnings: Net profit down 19% in Q4, R&D expenses up 7%
Ajanta Pharma, a mid-size firm, closed today's trading session with a market worth of ₹16,201.44 Cr.
Ajanta Pharma, a mid-size firm, closed today's trading session with a market worth of ₹16,201.44 Cr. Ajanta Pharma is a speciality pharmaceutical business that offers high-quality medications in over 30 different nations throughout the world.
During Q4FY23, the company’s revenue from operations reached Rs. 882 Cr up by 1% YoY from ₹870 Cr during Q4FY22. Whereas in FY23 its revenue from operations stood at Rs. 3,743 Cr up by 12% YoY from Rs. 3,341 Cr in FY22.
The company said its EBITDA stood at Rs. 149 Cr during Q4FY23 down by 17% YoY from Rs. 207 Cr during Q4FY22 whereas in FY23 its EBITDA reached Rs. 783 cr down by 21% YoY from Rs. 929 Cr in FY22.
Ajanta Pharma said its net profit stood at Rs. 122 cr during Q4FY23 down by 14% YoY from Rs. 151 cr during Q4FY22 whereas in FY23 its net profit reached Rs. 588 cr as against Rs. 713 cr during FY22, representing a fall of 16%.
In India, Q4 FY 2023 sales increased by 17% to Rs. 287 cr from (Rs. 245 cr.) in Q4FY22.and FY 2023 saw sales of ₹1,174 crore ( ₹982 crore), a 20% growth. The company said during Q4 FY 2023, R&D expenses were Rs. 63 cr up by 7% from (Q4 FY 2022 Rs. 59 cr.), and FY 2023, R&D expenses were Rs. 237 cr up by 6% from (12M FY 2022 Rs. 204 cr.).
Ajanta Pharma is a specialty pharmaceutical formulation firm with institutional business in Africa, branded generic business in India, Asia, and Africa, and generic business in the US. Many of the company's products were first to market and are market leaders in their respective sub-therapeutic niches. Mumbai is headquarters to the company's cutting-edge R&D facility. In India, the company has 7 top-notch manufacturing facilities. The firm has reported strong success over the past five fiscal years, with net profit climbing at an 11% CAGR and revenue from operations growing at a 16% CAGR.
The shares of Ajanta Pharma closed today on the NSE at ₹1,290 apiece up by 0.54% from the previous close of ₹1,283.10.
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