Riding on the back of consistent sales in emerging markets and cost cutting measures, Ranbaxy Laboratories on Monday posted a consolidated profit after tax (PAT) of Rs. 116.60 crore in the third quarter ended September 30, 2009, as compared to a loss of Rs. 394.50 crore in the year-ago period.
However, consolidated net sales fell by 18 per cent to Rs. 1,720.50 crore from Rs. 18,88.40 crore. “Revenue growth in some strategic geographical markets and a sharp focus on cost efficiency have been the underlying themes this quarter. With good achievements in these fronts, we are confident that we are on the path to recovery,” Atul Sobti, CEO and Managing Director, told journalists through a teleconference from Tokyo.
The company’s sales in the emerging markets, including Asia, CIS (Commonwealth of Independent States) countries, Latin America and Africa, which account for 62 per cent of its overall revenues, stood at Rs. 1,067.80 crore.