Ranbaxy Laboratories clocks Rs 1,594-million Q2 net profit

Mumbai: Ranbaxy Laboratories has posted a net profit of Rs 1,594 million for the quarter ended 30 September 2002 as compared to Rs 891 million in the corresponding period last fiscal.

The net sales have increased from Rs 5,383 million in SQ-01 to Rs 8,044 million in the quarter ended 30 September 2002. The other operating income for SQ-02 is at Rs 560 million.

Ranbaxy Laboratories president (pharmaceuticals) Brian W Tempest says during the quarter ended 30 September 2002 the company earned Rs 48 million as extraordinary items as compared to Rs 727 million in the corresponding period last fiscal.

The consolidated sales of Ranbaxy Laboratories and its subsidiaries for the quarter ended 30 September 2002 was Rs 10,464 million and the profit after tax was Rs 1,489 million for the quarter ended 30 September 2002.

Earlier Ranbaxy SA (Pty), a wholly-owned subsidiary of Ranbaxy Laboratories (Ranbaxy) and Tiger Brands’ healthcare division, Adcock Ingram, had formed a 50:50 joint venture to exclusively sell and distribute Ranbaxy’s range of anti-retroviral products in South Africa.

This joint venture marks a formidable entry platform for Ranbaxy into the South African anti-retroviral market. Adcock Ingram leverages its strong distribution network and leadership position in the pharmaceutical private market and the hospital sector to market Ranbaxy’s range of anti-retroviral products.