Advertisement

HindustanTimes Sun,21 Dec 2014

Ranbaxy rebounds with Rs. 262 cr net profit

HT Correspondent, Hindustan Times  New Delhi, February 25, 2010
First Published: 20:36 IST(25/2/2010) | Last Updated: 20:37 IST(25/2/2010)

Buoyed by strong results in the third quarter, Ranbaxy Laboratories is now eyeing growth in rural areas.

Advertisement

The company reported a consolidated profit after tax of Rs. 262 crore for the quarter ended December, 2009 against a loss of Rs. 679.8 crore in the same quarter last year. Global sales during the quarter were at Rs. 2,269.9 crore against Rs. 1,909.6 crore last year.

During 2010, Ranbaxy is targeting a sales of Rs. 7,800 crore  as against Rs. 7,340 crore in 2009 — a growth of 6 per cent. It is also aiming to increase net profit by 48 per cent — from Rs. 310 crore to Rs. 460 crore..

Speaking about his India strategy, Ranbaxy Laboratories CEO and managing director Atul Sobti said, “India is 20-25 per cent of our total market and is very profitable. We have rolled out a project Viraat to strengthen market share in rural India and have also commenced the Phase III clinical trials for a new anti-malaria drug in India and Thailand. We will now move into vaccines.”

“Vaccines will be a 2011 play for us,” said Sobti. “We realised various opportunities, while continuing to manage key challenges.”


Advertisement
more from Business

Year-end high: Flipkart announces $700 million funding

Flipkart, India’s largest e-commerce marketplace, on Saturday announced a US $700 million (Rs 4434 crore) investment even as 2014, the year that has seen huge fund flow into India’s rising consumer internet industry, is about to end.

markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved