)
Ranbaxy Laboratories has moved higher by 6% to Rs 634 on BSE after reporting better-than-expected consolidated net profit of Rs 478 crore for the quarter ended September 2014 (Q2), on back of strong operational performance. The drug maker had a loss of Rs 454 crore in a year ago quarter.
Net sales grew 17% to Rs 3,218 crore against Rs 2,750 crore in the corresponding quarter of previous fiscal. Operating profit jumped more-than-four fold at Rs 807 crore over the previous year quarter.
“During the quarter, growth in base business was driven by India and Western Europe. In the US, we successfully launched Valsartan with 180 days exclusively,” said Arun Sawhney, CEO & Managing Director, Ranbaxy.
Analysts on an average had expected profit of Rs 174 crore on net sales of Rs 2,888 crore.
The stock opened at Rs 600 and has seen a combined 2.67 million shares changed hands on the counter till 1350 hours on BSE and NSE.
Net sales grew 17% to Rs 3,218 crore against Rs 2,750 crore in the corresponding quarter of previous fiscal. Operating profit jumped more-than-four fold at Rs 807 crore over the previous year quarter.
“During the quarter, growth in base business was driven by India and Western Europe. In the US, we successfully launched Valsartan with 180 days exclusively,” said Arun Sawhney, CEO & Managing Director, Ranbaxy.
Analysts on an average had expected profit of Rs 174 crore on net sales of Rs 2,888 crore.
The stock opened at Rs 600 and has seen a combined 2.67 million shares changed hands on the counter till 1350 hours on BSE and NSE.
