Ranbaxy Q3 net up 16.5 pc; scrip hits year-high on BSE

NEW DELHI: Drug major Ranbaxy Laboratories today reported a net profit of Rs 312.8 crore for the third quarter ending September 30, reflecting growth of 16.5 per cent over the year-ago period, driven by balanced sales across geographies and favourable forex movement.

The company had posted a net profit of Rs 116.6 crore in the July- September quarter last year, Ranbaxy said in a filing to the Bombay Stock Exchange (BSE).

Consolidated sales of the company also grew by 13 per cent to Rs 1,887.2 crore in the September quarter, from Rs 1,720.5 crore in the same period last year, the filing added.

Commenting on the numbers, Ranbaxy Managing Director Arun Sawhney said: "Our key markets continued to perform well attributable in large measure to balanced sales across geographies. This has also been aided by the favorable Forex movement."

Bolstered by the handsome quarter numbers, shares of Ranbaxy Laboratories soared by 3.45 per cent to hit an year high of Rs 624.90 on the BSE.