Ranbaxy posts spectacular profit from last year's loss

11 May 2010

Ranbaxy Laboratories Ltd. has posted a consolidated net profit of Rs963.1 crore for the quarter ended 31 March 2010 compared to a net loss of Rs761 crore in the previous year.

The company said in statement the turnaround was on account of robust growth in key markets, monetisation of first-to-file (FTF) opportunities in the US market, and cost cutting measures.

According to moving annual total for February 2010, Ranbaxy continued to be the second-largest pharma manufacturer with a 4.9-per cent market share in the Indian pharmaceutical market with Revital taking the 6th largest product in the Indian pharmaceutical market.

The consolidated net sales showed a jump of 65 per cent at Rs2,490.2 crore compared to Rs1,558.4 crrore for the corresponding period.

Its earnings before interest, tax, depreciation and amortisation (EBITDA) rose 55 per cent of sales at Rs1,371.1 crore compared to a loss of Rs1,001 crore.

The company says it has performed well in other markets, which has helped it to deliver good results. Sales in emerging markets saw a growth of 15 per cent at $212 million, contributing 39 per cent to sales. The developed markets a recorded growth of 145 per cent at $304 million, primarily on account of FTF revenues in the US.