Ranbaxy sales rocket 55%, net rises four-fold

Ranbaxy Laboratories (AB: BO), India’s largest drugmaker, came in with a stompingly good set of financial results this week, showing that first-quarter 2012 consolidated sales had leapt 55% to 32 billion rupees ($736 million) and net profits nearly quadrupling, buoyed by market exclusivity for a generic version of Pfizer’s Lipitor (atorvasatin) in the USA, as well as a foreign-exchange gains.

Earnings before Interest, Tax, Depreciation & Amortization (EBITDA) was 27% of sales at 10.15 billion rupees, versus 4.26 million rupees in the like 2011 quarter, and profits after tax were 12.47 billion rupees compared with 4.26 billion rupees, noted Ranbaxy, which is majority-owned by Japan’s Daiichi Sankyo (TYO: 4568).

Commenting on the business results, Arun Sawhney, chief executive and managing director of Ranbaxy, said: "The focus on key products and markets, while maintaining emphasis on further strengthening quality and compliance standards has had a positive impact on the performance of Ranbaxy during the quarter. The company is working towards creating a sustainable, profitable, growing business in the long run with differentiated, branded generics business at its base.”