Ranbaxy back in black with Q2 profit of Rs 478 cr

The company had posted a net loss of Rs 454 crore for the same period previous fiscal

Drug firm Ranbaxy Laboratories today reported a consolidated net profit of Rs 477.75 crore 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 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 for the quarter under consideration as against Rs 2,750.17 crore 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 today trading at Rs 640 per scrip in the afternoon trade on BSE, up 7.10 per cent from its previous close.