The company reported consolidated net profit of Rs 478 crore during the quarter as against loss of Rs 454 crore in the year-ago period.
The News International Team
Drug maker Ranbaxy Laboratories has turned profitable in the second quarter of current financial year due to lower expenses, strong topline and operational performance despite higher finance and tax cost, and forex loss. The company reported consolidated net profit of Rs 478 crore during the quarter as against loss of Rs 454 crore in the year-ago period.
Consolidated revenue grew by 16.3 percent to Rs 3,260 crore in the quarter ended September 2014 compared to Rs 2,802 crore in same quarter last year, beating analysts expectations of Rs 2,886 crore.
Consolidated operating profit jumped 4 times on yearly basis to Rs 807 crore and margin expanded by 1770 basis points to 24.8 percent in the quarter gone by. According to the average of estimates of analysts polled by CNBC-TV18, both were expected at Rs 389 crore and 13.5 percent, respectively.
More to come…