Ajanta Pharma scrip surges 20% after robust Q3 results

Following the strong set of numbers, shares of the company soared 19.99 percent to Rs 490.65 -- its upper circuit limit on the BSE.

Mumbai: Shares of Ajanta Pharma on Wednesday shot up by 20 percent to touch the upper circuit limit, after the company reported 75.95 percent increase in net profit for the third quarter ended December 31, 2012.

Following the strong set of numbers, shares of the company soared 19.99 percent to Rs 490.65 -- its upper circuit limit on the BSE.

At NSE, the stock zoomed 20 percent to Rs 491.45.

On the volume front, 5.62 lakh shares of the company changed hands on the BSE, while over 11 lakh shares were traded on NSE.

Ajanta Pharma today reported 75.95 percent increase in net profit to Rs 32.57 crore for the quarter ended December 31, 2012, mainly on robust sales.

The company had posted a net profit of Rs 18.51 crore for the corresponding period previous fiscal.

Net sales of the company rose to Rs 225.68 for the quarter under consideration from Rs 164.52 crore for the same period last fiscal, Ajanta Pharma said in a BSE filing.

PTI