Aanjaneya Lifecare FY-11 net surges two-fold to Rs 36 crore

NEW DELHI: Aanjaneya Lifecare today said its net profit for the year ended March 31, 2011 rose over two- fold to Rs 36.01 crore from the same period previous year.

The company had posted a net profit of Rs 15.07 crore for the year ended March 31, 2010, Aanjaneya Lifecare said in a filing to the Bombay Stock Exchange ( BSE).

Net sales of the company for the year ended March 31,2011 rose to Rs 320.25 crore from Rs 161.67 crore during the same period previous fiscal.

"We are confident that we will be able to capitalise on the opportunities lying ahead for Aanjaneya and further grow in this ever expanding pharmaceutical market," Aanjaneya Lifecare Chairman Kannan Vishwanath said.

The company recently raised about Rs 117 crore from its IPO and the funds are being used to built new capacities alongwith the refurbishing of research & development centre, Aanjaneya Lifecare said.

"The company has confirmed order book of rupees 60 crore from new clients such as Wockhardt, Cipla, Remedica, Tanzania Pharmaceutical Ltd, Activo SA and Pharmed Europe Ltd to be executed within next two months," it added.

Shares of Aanjaneya Lifecare today closed at Rs 383.65 on the BSE, up 2.02 per cent from previous close.