Ranbaxy Swings To Profit In Q4

Ranbaxy Laboratories Ltd., an integrated, research-based international pharmaceutical company, reported profit compared to loss last year.

On Indian GAAP basis, the Mohali, Punjab-based company\'s fourth-quarter stand-alone net profit, including forex gain/loss, was Rs.488.23 crore or Rs.9.69 per share compared with a net loss of Rs.819.02 crore or Rs.21.90 per share for the corresponding previous quarter.

Profit for the quarter included a forex gain of Rs.388.99 crore, compared to Rs.1,015.44 crore toward foreign currency option derivatives (other than derivatives relating to loans).

For the quarter, the company\'s net revenue increased 59% to Rs.1,522.88 crore from Rs.957.86 crore for the same period last year, while other operating income amounted to Rs.396.52 crore compared with Rs.445.90 crore in the year-ago quarter.

For the quarter, revenue from domestic sales rose 7% to Rs.423.98 crore from Rs.396.59 crore in the corresponding quarter last year, while that of Outside India amounted to Rs.1,102.47 crore, up 94% from Rs.568.04 crore for the quarter ended December 31, 2008.

The company incurred an expense of Rs.165.01 crore towards research and development, up 55% from Rs.106.28 crore in the prior year quarter.

Ranbaxy posted fiscal-year stand-alone net profit, including forex gain/loss, of Rs.571.98 crore compared with a net loss of Rs.1,044.80 crore in 2008. Total revenue, including other operating income, grew 7% to Rs.4,782.76 crore from Rs.4,472.15 crore in the previous year.

Profit for the year included a forex loss of Rs.321.34 crore, compared to a gain of Rs.1,099.04 crore toward foreign currency option derivatives (other than derivatives relating to loans).

The company reported fiscal year consolidated net profit of Rs.296.49 crore, compared with a net loss of Rs.951.21 crore in 2008. Total revenue, including other operating income, rose to 2% to Rs.7,597.04 crore from Rs.7,414.00 crore in the year-ago quarter.

Research and development expenses for the year rose 13% to Rs.487.52 crore from Rs.431.39 crore in 2008.

Looking ahead, the company expects fiscal year net profit of around Rs.460 crore or $100 million on revenues of Rs.7,800 crore, reflecting a growth of 48% and 6% respectively over last year.

Chief Executive Officer and Managing Director Atul Sobti said: \"We realized various opportunities, while continuing to manage key challenges. Good revenue growth in most key geographies, launch of two First-to-File in USA, and continued cost containment, has ensured consistent quarter-on-quarter improvement in performance. The company ended the year with strong business and financial performance, and over achieved on the guidance given for the year.\"
News From: http://www.Time2timeNews.com