Ajanta Pharma Q4 Earnings Misses Expectations

Ajanta Pharma Q4 Earnings Misses Expectations

Ajanta Pharma’s share price was trading higher on Friday ahead of the Q4 earnings that were released after market close.

What Happened: The pharma company’s revenue from operations was up marginally at ₹881.84 crore as against ₹870.29 crore in the corresponding quarter last year. The company’s international business was down hampering the overall revenue. The company spent ₹63 crore or 7% of revenue on R&D in the March quarter.

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Total Branded Generic Business sales for the quarter ended March stood at ₹625 crore down 3% from ₹644 crore sales it reported in the same quarter last year. US Generic Business, on the other hand, saw an uptick of 17% at ₹197 crore compared to ₹168 crore in the March quarter of 2022.

EBITDA was down 28% year-over-year at ₹149 crore. Net profits for the review period slumped 19% YoY at ₹122.25 crore much below consensus estimates. Earnings per share for the quarter stood at ₹9.54.

Price Action: Ajanta Pharma’s share price jumped up 0.54% to close at ₹1,290 on Friday.

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