Ajanta Pharma hits new high

Specialty pharmaceutical formulations company, Ajanta Pharma is very much in the limelight since the morning; the stock which had closed yesterday at Rs.1546, opened higher today at Rs.1625 and rose to a new 52-week high at Rs.1735.

The stock rose to a new high on the back of its Q1FY24 performance. The company, on a 7% (YoY) rise in revenue at Rs.1021 crore, posted a net profit of Rs.208 crore, up 19%.

The company’s EBITDA came in at Rs.271 crore, a rise of 22% and margins showed a jump from 23.3% to 26.6%.