Ranbaxy shares up over 6% on smart earnings

Shares of drug firm Ranbaxy Laboratories today surged over 6 per cent, adding Rs 1,583.17 crore to its market capitalisation, after the company reported consolidated net profit of Rs 477.75 crore for the second quarter ended September 30, 2014-15.
Ranbaxy's stock jumped 6.11 per cent to settle at Rs 634.10 on the BSE. In intra-day, the scrip zoomed 7.53 per cent.
At the NSE, the stock climbed 5.83 per cent to Rs 633.50.
Following the rally in the stock, the market valuation of the company rose by Rs 1,583.17 crore to Rs 26,922.17 crore.
On the volume front, 9.85 lakh shares of the company changed hands at the BSE, while more than 53 lakh shares were traded at the NSE during the day.

Ranbaxy Laboratories today reported consolidated net profit of Rs 477.75 crore for the second quarter ended September 30, 2014-15, on account of exclusivity sales of Valsartan in US and robust sales in India and Western Europe.

The company had posted net loss after tax, minority interest and share in loss of associates of Rs 454.16 crore for the July-September period of 2013-14, Ranbaxy Laboratories said in a statement.
Consolidated net sales of the company in Q2, 2014-15 were Rs 3,218 crore as against Rs 2,750.17 crore in the year-ago period, it added.
The company's sales for the quarter in US stood at Rs 1,354.8 crore. Sales were higher in comparison to the corresponding quarter largely due to large contribution to sales from Valsartan in the current quarter, Ranbaxy said.