Ranbaxy rides a generic sales boom to a Rs1,247-crore Q4 net profit
09 May 2012
Ranbaxy Laboratories, the country's largest pharmaceutical company, has reported an over 410 per cent increase in its fiscal fourth quarter net profit, helped by a 55 per cent increase in sales.
Net (after-tax) profit of the drugmaker rose to Rs1,247 crore ($248 million) in January-March 2012 from Rs304 crore ($67 million) a year earlier. This includes Rs345 crore in foreign exchange earnings, according to a filing with the Bombay Stock Exchange (BSE).
Ranbaxy, majority owned by Japan's Daiichi Sankyo Co, said most of the sales volume came from its cholesterol drug, which is a generic equivalent of Pfizer's Liptor, especially in the US market.
Consolidated sales of the company during the January-March 2012 quarter jumped 55 per cent to Rs3,700 crore ($736 million) from Rs2,145 crore ($474 million) in the corresponding quarter of the previous year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) was 27 per cent of sales at Rs1,015.2 crore ($202 million) during the quarter, against an EBITDA of Rs426.1 crore ($94 million) in the previous year quarter.
"The focus on key products and markets, while maintaining emphasis on further strengthening quality and compliance standards has had a positive impact on the performance of Ranbaxy during the quarter,'' Arun Sawhney, CEO and managing director of Ranbaxy, said, adding, ''The company is working towards creating a sustainable, profitable, growing business in the long run with differentiated, branded generics business at its base.''
