Ranbaxy Laboratories rose 0.17% to Rs 591 at 11:21 IST on BSE after the company reported improved financial results for Q1 June 2014.
The Q1 result was announced on Tuesday, 29 July 2014, when the stock market was closed on account of Ramzan Id.
Meanwhile, the BSE Sensex was down 56.81 points, or 0.22%, to 25,934.42
On BSE, so far 61,090 shares were traded in the counter, compared with an average volume of 1.53 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 1.16% at the day's high of Rs 596.85 so far during the day, also its 52-week high. The stock fell as much as 2.43% at the day's low of Rs 575.65 so far during the day. The stock hit a 52-week low of Rs 253.95 on 2 August 2013.
The stock had outperformed the market over the past one month till 28 July 2014, rising 18.68% compared with 3.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 23.04% as against Sensex's 14.84% rise.
The large-cap company has an equity capital of Rs 212.01 crore. Face value per share is Rs 5.
Ranbaxy Laboratories (Ranbaxy) reported a consolidated net loss of Rs 185.93 crore in Q1 June 2014, lower than net loss of Rs 524.24 crore in Q1 June 2013. Total income declined 8.16% to Rs 2451.70 crore in Q1 June 2014 over Q1 June 2013.
Consolidated global sales stood at Rs 2370 crore in Q1 June 2014 as compared to Rs 2580 crore in Q1 June 2013. Branded and OTC category contributed Rs 1370 crore accounting for 58% of total sales in Q1 June 2014. Generics and others category recorded Rs 1000 crore of sales during the quarter, the company said in a statement.
In the domestic market, sales in Q1 June 2014 stood at Rs 610 crore, a growth of 12% over the corresponding period. Ranbaxy said it expects the momentum in Indian business to continue in the months ahead.
Active pharmaceutical ingredient (API) business and others contributed sales of Rs 50 crore. Business was impacted by the voluntary suspension of shipments from its Toansa and Dewas facilities, Ranbaxy said.
Commenting on the company's Q1 results, Arun Sawhney, CEO & MD, Ranbaxy said, We continue to work towards growing our base business with focus on emerging markets, while at the same time, restoring the business on growth trajectory in our traditional markets such as USA and Europe.
In April 2014, Sun Pharmaceuticals Industries acquired Ranbaxy in $4 billion landmark transaction. As per the deal, shareholders will receive 0.8 share of Sun Pharmaceuticals Industries for each share of Ranbaxy.
Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
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