Investing.com — Shares of the specialty pharmaceutical company Ajanta Pharma (NS:AJPH) rallied 11.75% and hit a new 52-week high of Rs 1,735 apiece on Friday after the firm reported healthy double-digit growth in its bottomline for the quarter ended June 30, 2023, along with approving a 1,250% interim dividend for the current financial year.
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As per the pharma company’s earnings filing for the June-ended quarter, Ajanta Pharma’s profit after tax (PAT) rose 20% on a year-on-year (YoY) basis to Rs 208 crore compared to Rs 175 crore in the same period last year. On a sequential basis, its net profit rose significantly by 70.24%.
The company’s revenue from operations grew by 7% YoY to Rs 1,021 crore in the June quarter as opposed to Rs 951 crore in the corresponding quarter of last year, while gaining 15.8% on a quarter-on-quarter (QoQ) basis.
Ajanta Pharma’s EBITDA for the reporting quarter zoomed 22% YoY to Rs 271 crore from Rs 222 crore in the year-ago period.
The small-cap company’s India sales witnessed a 14.3% growth in Q1 FY24 at Rs 319 crore from Rs 279 crore in the same period of the preceding fiscal year.
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Ajanta Pharma’s Board of Directors also approved the first interim dividend of Rs 315 crore for FY24, translating to Rs 25/share (1,250%) for each Rs 2 face value share.
