Ajanta Pharma share price jumps 7%, hits 52-week high as Q3 PAT zooms 64%

The drug firm reported a 64 percent rise in its consolidated net profit to Rs 177 crore for the quarter ended December mainly on account of robust sales.

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Ajanta Pharma share price jumped over 7 percent in the morning session on February 3 after the company declared its Q3 results.

The drug firm on February 2 reported a 64 percent rise in its consolidated net profit to Rs 177 crore for the quarter-ended December mainly on account of robust sales. The company had posted a net profit of Rs 108 crore for the corresponding period of the previous fiscal, Ajanta Pharma said in a BSE filing.

Consolidated revenue from operations of the company stood at Rs 749 crore for the quarter under consideration. It was Rs 651 crore for the same period a year ago, it added.

The stock was trading at Rs 1,859.15, up Rs 113.00, or 6.47 percent at 09:30 hours. It has touched a 52-week high of Rs 1,879.45. It has touched an intraday high of Rs 1,879.45 and an intraday low of Rs 1,799.65.

The scrip also witnessed spurt in volume by more than 2.70 times and was trading with volumes of 13,424 shares, compared to its five day average of 4,959 shares, an increase of 170.71 percent.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has witnessed growth in quarterly net profit with increasing profit margin (YoY). It has decreasing promoter pledge with FII / FPI or institutions increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

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