Ajanta Pharma rallies 20% post Q3 results

MUMBAI: Shares of Ajanta Pharma surged higher in trade today following a sharp rise in its net profit for the quarter ended December 2012. The company posted a net profit of Rs 32.6 crore for the quarter, up 76 per cent, compared to a net profit of Rs 18.5 crore in the same period last fiscal.

The company’s sales grew to Rs 225.6 crore, up 37 per cent, as against Rs 164.5 crore in the corresponding quarter a year ago.

At 02:30 pm, the stock was at Rs 491.45, up 20 per cent, on a volume of around 12 lakh shares on the NSE.