Ajanta Pharma plunges 5% on poor Q3 nos; approves buyback

Shares of Ajanta Pharma plunged 5 percent in the early trade on Thursday on the back of poor numbers declared by the company for the quarter ended December 2018.

The company's Q3 net profit fell to Rs 66.9 crore versus Rs 147.5 crore in the same quarter last fiscal.

Revenue declined to Rs 485.11 crore versus Rs 587.05 crore.

The company approved buyback of up to 7.69 lakh shares at a price up to Rs 1,300 per share.

It has approved February 12 as the record date for determining the entitlement of the eligible shareholders for the proposed buyback of the equity shares of the company.

At 09:22 hrs Ajanta Pharma was quoting at Rs 1,053.75, down Rs 35.80, or 3.29 percent.