Ranbaxy Laboratories, on the back of a surge in export earnings has reported a 79 per cent spurt in net profit to Rs 159.4 crore during the third quarter ended September 2002. Sales during the quarter shot to Rs 804.4 crore, up 49 per cent from Rs 538.3 crore reported in the corresponding quarter of last year. Ranbaxy’s exports at Rs 521.0 crore grew by 99 per cent. Research and development expenditure (including regulatory expenditure for third quarter) stood at Rs 49 crore, up from Rs 17.2 crore spend in last quarter. For nine months ended September 2002, Ranbaxy recorded sales of Rs 2,071.7 crore against Rs 1,483.3 crore in the corresponding period last year. Export sales during the nine-month period at Rs 1,288.5 crore shot up by 78 per cent from Rs 725.8 crore reported last year. The consolidated sales of Ranbaxy Laboratories and its subsidiaries for the quarter stood at Rs 1,046.4 crore and net profit at Rs Rs 148.9 crore. For the nine month period ended September 2002, consolidated turnover stood at 2751.3 crore and net profit at Rs 417.6 crore. “The results signify enhanced momentum of our business in international markets. Our sales in the United States is now reaching the desired critical mass required for the next horizon of growth,” Ranbaxy’s CEO and managing director D.S. Brar said while commenting on the company’s performance. In the domestic market, Ranbaxy registered a growth rate of 10.6 per cent against an industry growth of 9.9 per cent and increased its market share from 4.73 per cent to 4.83 per cent. The Company’s anti-diabetic product sales achieved 66.3 per cent growth against the segment growth of 31.3 per cent. During the latest quarter, Ranbaxy’s anti-AIDs drugs, Zidovudine 300 mg tablets, Nevirapine 200 mg tablets, Lamivudine 150 mg tablets and Lamivudine 150 + Zidovudine 300mg tablets received approval from the World Health Organisation (WHO) to come within the purview of WHO approved list of anti-AIDs drugs. As a result, Ranbaxy has now become a pre-qualified supplier of these products to the UN agency.
