Ranbaxy Q3 net soars over 2-fold | business | Hindustan Times
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Ranbaxy Q3 net soars over 2-fold

Buoyed by a spurt in sales in the US, pharmaceutical major Ranbaxy’s reported a 168 percent jump in the net profit for the third quarter of 2010 ending Sep 30 at Rs 312.8 crore as against Rs 116 crore during the corresponding period last year.

business Updated: Nov 11, 2010 22:17 IST
HT Correspondent

Buoyed by a spurt in sales in the US, pharmaceutical major Ranbaxy’s reported a 168 percent jump in the net profit for the third quarter of 2010 ending Sep 30 at Rs 312.8 crore as against Rs 116 crore during the corresponding period last year.

“Our key markets continued to perform well attributable in large measure to balanced sales across geographies. This has also been aided by favourable forex movement,” Ranbaxy managing director Arun Sawhney said.

The growth in revenues were also driven by continuing sales of Valacyclovir—an anti-herpes drug, in the lucrative north American markets.

The company's major markets globally include North America, India, Romania, CIS countries, and Latin America.

Ranbaxy’s total operating income grew to R1,934.6 crore for the third quarter, as against R1,885.8 crore in the corresponding period previous fiscal.

The company's domestic sales stood at R493 crore for the third quarter. Sawhney said the company will continue to maximise synergies with its parent, Japan’s Daiichi Sankyo that holds 64% in the company.

Sawhney said Ranbaxy will continue to maximise synergies with its parent, Japan’s Daiichi Sankyo that holds 64% in it.

“Our focus will be on bettering operational performance, maximising synergies with Daiichi Sankyo and on seeking a speedy resolution to the challenges in US,” Sawhney said.