Drug major Ranbaxy Laboratories today said its consolidated net profit surged over four-fold to Rs 1,246 crore during the first quarter ended March 31, 2012, over the same period of previous year.
The company had posted a profit of Rs 304 crore during the quarter ended March 31, 2011, Ranbaxy Laboratories said in a filing to the BSE.
Net sales of the company rose to Rs 3,695 crore for the quarter ended March 31, 2012, as against Rs 2,141 crore during the same period of previous year.
On a standalone basis, the company posted a net profit of Rs 827 crore for the first quarter, while it had a net loss of Rs 53 crore in the corresponding period of last year.
The company's net sales on standalone basis rose to Rs 1,810 crore during the first quarter, as against Rs 1,054.92 crore in the same period of last year.
Commenting on results, Ranbaxy CEO and Managing Director Arun Sawhney said: "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".
Shares of Ranbaxy were trading at Rs 514.20 on the BSE in late afternoon trade, up 4.15% from its previous close.