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Ajanta Pharma today reported a 20.71 per cent decline in consolidated net profit to Rs 94.79 crore for the first quarter ended June 30, mainly due to de- stocking in trade channels ahead of GST implementation.
Over one hundred companies will declare their April-June quarter results on Wednesday. These include 3M, Ajanta Pharma, Aurobindo Pharma, AU Small Finance Bank, Balmer Lawrie, City Union Bank, Eicher Motors, GMDC, Greenlam Industries, GTL Infra, Inox Wind, Jai Corp, Jindal Stainless, Max Fin, Nalco, NHPC, NMDC, PTC India Fin, P&S Bank, Sanghi Movers, Tata Motors, Tube Investments, Unichem Laboratories, VA Tech Wabag, Wheels India, Wonderla and West Coast Paper Mills.
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Undeterred by pricing pressures and competition in the world’s largest market for generic drugs, Ajanta Pharma plans to rapidly scale up its US business.
The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai January 25, 2017. Driven by the energy sector, Indian shares head for third day of record-breaking highs. — Reuters picMUMBAI, July 12 — India’s main stock indexes headed for a third day of record highs, paced by a rally in energy shares.
Shares of Ajanta Pharma will remain in focus, as a promoter group firm cut its stake in the company. According to BSE bulk deal data, Ganga Exports, a promoter group firm, sold 24.85 lakh shares at an average price of ₹1,500.11. While SBI Mutual Fund bought 13.57 lakh shares, identity of the other buyers was not known. Ganga Exports is represented by Yogesh Agrawal, Rajesh Agrawal, Ravi Agrawal and Aayush Agrawal — promoters of Ajanta Pharma.
Indian drug makers’ domestic formulation businesses could be under strain, impacting their overall profits in the first half of this financial year, owing to the supply chain disruption caused by the roll out of Goods and Service Tax (GST).
Market regulator, Securities and Exchange Board of India (SEBI) has taken further steps to attract foreign investors to directly invest in the Indian market, rather than taking the help of Participatory Notes (P-notes).
9:45 am Good profit margin and high dividend payout: Through a Moneycontrol study, we came across 13 companies from the BSE universe which reported net profit margins in excess of 20 percent in each of the last three financial years (FY15, FY16, and FY17).
For the full year,net profit rose 18.45% to Rs 499.81 crore in the year ended March 2017 as against Rs 421.95 crore during the previous year ended March 2016. Sales rose 13.06% to Rs 1753.68 crore in the year ended March 2017 as against Rs 1551.10 crore during the previous year ended March 2016.
Ajanta Pharma had posted a net profit of Rs 108.96 crore for the March quarter of fiscal 2016
Close to two dozen companies including Accelya Kaya, Ajanta Pharma, Alembic Pharma, Agro Tech Foods, Dewan Housing, Everest Ind, IG Petrochem, ICICI Bank, Kaya, Intellect Design, Merck, KPR Mills, L&T Technology, R Systems, Sundaram Clayton, Shanthi Gears, TBZ, Vardhman Acrylics, V-Mart Retail, and Zandu Realty will announce their quarter and year-ending March 2017 financial performance on Wednesday.
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