Ranbaxy Q4 net dips 11.4%

BS 200 SCORECARD

Ranbaxy Laboratories Ltd's fourth-quarter (October-December) profit after tax fell 11.4 per cent from $39 million in 2003 to $35 million in 2004, though its sales went up by 24 per cent from $251 million to $316 million during the period.

CEO and managing director Brian Tempest said this was because of the pricing pressure in the US, the company's largest market, and the increased investments made in research and development during the quarter.

Consolidated PAT went up from $163 million to $164 million, even as sales improved by 21 per cent from $972 million to $1.178 billion.

While the US accounted for 36 of Ranbaxy's turnover during the year, Europe and BRIC countries constituted 16 per cent and 26 per cent respectively.

During the year, the company's sales in Europe grew by 116 per cent. Ranbaxy Laboratories reported a 2.1 per cent year-on-year decline in net profit at Rs 743 crore in the financial year ended December 31, 2004.Consolidated sales, however, grew 18 per cent compared with last year to touch Rs 5333.3 crore.