Profit before tax soared 82.86% to Rs 278.04 crore in Q4 FY24 from Rs 152.05 crore reported in the same period a year ago.

EBITDA in Q4 FY24 was at Rs 278 crore, registering a growth of 86% year on year (YoY). EBITDA margin improved to 26% in the March quarter as compared to17% registered in Q4 FY23.

During the quarter, the company’s revenue from India stood at Rs 326 crore (up 14% YoY), revenue from Asia was at Rs 281 crore ( up 18% YoY), income from Africa stood at Rs 113 crore (up 13% YoY) while revenue from United States was at Rs 261 crore ( up 32% YoY).

Research and development (R&D) expenses were at Rs 50 crore in Q4 FY24, down 20.63% as against Rs 63 crore posted in Q4 FY23.

On full year basis, the company’s consolidated net profit surged 38.81% to Rs 816.17 crore on 12.45% rise in revenue to Rs 4,208.71 crore in FY24 over FY23.

Meanwhile, the pharmaco said that its board has approved a share buyback of upto Rs 285 crore at a price of Rs 2,770 per equity share through tender offer route.

The buyback price fixed at Rs 2,770 per equity share, representing a 24.04% premium to Thursday’s closing price of Rs 2,233.10 on the BSE.

The company will buyback up to 10,28,881 fully paid-up equity shares, representing 0.82% of the total paid-up equity shares of the company.

Ajanta Pharma is a specialty pharmaceutical formulation company primarily with a well-diversified branded generics business spread across India, the Rest of Asia, and Africa. The company is involved in development, manufacturing and marketing of marketing of quality finished dosages in domestic and international markets. It produces a comprehensive range of specialty products targeting different therapeutic segments.