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Ranbaxy Q2 profit down 25%

Ranbaxy Q2 profit down 25%
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First Published: Fri, Aug 05 2011. 06 22 PM IST
Updated: Fri, Aug 05 2011. 06 22 PM IST
Mumbai: The country’s largest drug maker by sales Ranbaxy Laboratories Ltd reported a 25% drop in net profit to Rs243.2 crore for the June quarter.
It had a higher profit of Rs325.7 crore in the corresponding period a year ago as it had gained from one-time opportunities such as exclusive marketing rights in the US, the company said on Friday.
Sales decreased slightly to Rs2,059 crore from Rs2,095 crore.
“We have consciously worked towards strengthening our base business on the one hand and successfully delivering on multiple first to file opportunities on the other,” managing director Arun Sawhney said.
Emerging markets contributed 57% to total sales and developed markets, 34%. Sales in India grew 11% to Rs4,82.2 crore.
Ranbaxy’s shares fell 2.51% to Rs520.40 each on the Bombay Stock Exchange on Friday, as the Sensex dropped 2.19% to 17,305.87 points.
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First Published: Fri, Aug 05 2011. 06 22 PM IST
More Topics: Company Results | Ranbaxy | Pharma | Daichii | Sensex |