Ranbaxy returns to profit in Q2 on robust volumes

Drug firm Ranbaxy Laboratories on Monday reported a consolidated net profit of Rs 477.75 crore (Rs 4.77 billion)for the quarter ended September 30, 2014 on account of robust sales.

The company had posted a net loss after tax, minority interest and share in loss of associates of Rs 454.16 crore (Rs 4.54 billion) for the corresponding period of the previous fiscal, Ranbaxy Laboratories said in a filing to BSE.

Consolidated net sales of the company stood at Rs 3,218 crore (Rs 32.18 billion) for the quarter under consideration as against Rs 2,750.17 crore (Rs 27.50 billion) for the same period year ago, it added.

Commenting on the quarterly performance, Ranbaxy CEO and Managing Director Arun Sawhney said: "During the quarter, growth in base business was driven by India and Western Europe."

"In the US we successfully launched Valsartan with 180 days exclusivity." The company's focus continues to be on creating brands and providing differentiated products as future growth drivers, he added.

Shares of Ranbaxy Laboratories were on Tuesday trading at Rs 640 per scrip in the afternoon trade on BSE, up 7.10 per cent from its previous close.