Ranbaxy has reported a consolidated net sales of Rs. 2,146.80 crore for the first quarter ended March 31, 2011 against Rs. 2,484.70 crore in the first quarter of the previous year.
Earnings before interest, tax, depreciation and amortisation was 20 per cent of sales at Rs. 428.40 crore against Rs. 983.90 crore.
The profit after tax was Rs. 304.40 crore (Rs.960.60 crore). The foreign exchange fluctuation impact in the quarter was insignificant. Commenting on the results Arun Sawhney, Managing Director, Ranbaxy, said “We have started the year on a positive note and I am pleased with the sustained performance of key geographies as they continued to deliver superior sales. Leadership initiatives such as Viraat, in India, and a change in business models in some geographies, have also provided further impetus.”
The company delivered strong operating margins during the quarter. Ranbaxy grew faster than the Indian pharmaceutical market and improved its market share to 4.78 per cent as compared to 4.63 per cent in the year-ago period.
The performance in the U.S. was aided by growth in the base business and continued sales of Donepezil, a first-to-file product launched in the fourth quarter of last year.
