Ranbaxy Lab surges after turnaround Q2 results

Ranbaxy Laboratories jumped 7.35% at Rs 641.50 at 14:20 IST on BSE after the company reported a consolidated net profit of Rs 477.75 crore in Q2 September 2014 compared with net loss of Rs 454.16 crore in Q2 September 2013.

The Q2 result was announced during market hours today, 28 October 2014.

Meanwhile, the S&P BSE Sensex was up 116.59 points or 0.44% at 26,869.49.

On BSE, so far 7.25 lakh shares were traded in the counter as against average daily volume of 1.27 lakh shares in the past one quarter.

The stock hit a high of Rs 642.60 and a low of Rs 600 so far during the day. The stock had hit a record high of Rs 667.30 on 3 September 2014. The stock had hit a 52-week low of Rs 306.05 on 27 January 2014.

The stock had underperformed the market over the past one month till 27 October 2014, declining 0.88% as compared with Sensex's 0.48% rise. The scrip had, however, outperformed the market in the past one quarter, advancing 2.54% as compared to the Sensex's 2.4% rise.

The large-cap company has equity capital of Rs 212.29 crore. Face value per share is Rs 5.

Ranbaxy Laboratories' total income rose 15.91% to Rs 3277.87 crore in Q2 September 2014 over Q2 September 2013.

Ranbaxy Laboratories' sales rose 17% to Rs 3218 crore in Q2 September 2014 over Q2 September 2013, primarily due to exclusivity sales of Valsartan in the US during Q2 September 2014.

Commenting on the company's performance during the quarter, Arun Sawhney, CEO & MD, Ranbaxy Laboratories 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. Our focus continues to be on creating brands and providing differentiated products as future growth drivers".

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines.

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