Drug firm Ajanta Pharma today reported a 25.15 percent rise in its consolidated net profit to Rs 142.60 crore for the third quarter ended December 31, 2016 mainly on account of robust sales.
The company had posted a net profit of Rs 113.94 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a filing to BSE.
Total income from operations of the company also rose to Rs 533.11 crore as against Rs 476.64 crore for the same period year ago.
Commenting on the results, Ajanta Pharma Joint MD Rajesh, said: "We have posted yet another quarter of satisfactory growth in sales and profitability".
The external factors in emerging markets continue to pose challenges resulting into sub-optimal business. However, the company has ramped up its US business which has posted great results for the quarter, he added.
In another filing on the BSE, the company said there was no import alert on it's manufacturing unit in Aurangabad and it continues to supply to the US market.
"There is no import alert on our facility or any of our products approved by USFDA and we continue to supply the products to US," Ajanta Pharma said.
It appears some unknown and unrelated entity/individual has sent some Sildenafil manufactured by Ajanta Pharma being sold in India or other emerging market to US.
"We have no relations or connection to this dispatch of Sildenafil to USA. US authorities have seized this product as it is not approved by USFDA," it added.
The company was responding to media reports saying it has got import alert from USFDA for its Paithan unit at Aurangabad.
The company received two abbreviated new drug application (ANDA) final approvals, commercialised 3 products and filed 6 ANDAs with USFDA during the quarter, Ajanta Pharma said.
Shares of Ajanta Pharma today closed at Rs 1,756.50 per scrip on BSE, down 1.52 percent from its previous close.
Source: moneycontrol.com