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Ranbaxy Laboratories, Biggest Drug Maker in India, suffered a 25% fall in second quarter.
Ranbaxy’s profit slid to Rs. 243 crores or 25% for the second quarter of 2011 in comparison to last year’s same quarter which was at Rs. 325 crores. Shares we…
The shares of Ranbaxy Laboratories declined for the second consecutive day on disappointing results for the previous quarter, despite its consolidated PAT for 2011 surging more than five-fold, according to three dealers.
There was a report by the company showing only its yearly performance. However according to a Reuters measurement, there was a gross loss of 975 million rupees for quarter from October-December as against a profit made amounting to 2.6 billion rupees, around a year back.
Ranbaxy Laboratories today swung to a consolidated quarterly profit after tax of Rs 262 crore for the quarter ended December, 2009, triggered by the launch of its own copy of a blockbuster drug in the U. S., and forecast strong growth this year from new products.
Leading pharmaceutical company Ranbaxy Laboratories has announced to sell its 50 per cent stake in its Japanese joint venture with Nihon Pharmaceutical Industry (NPI) without divulging the financial details of the deal. However, media reports claim that the buyer Nippon Chemiphar, founded in 1950, would pay $18 million for the 50 per cent stake.
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