Ranbaxy Laboratories reported a net profit at Rs 125.75 crore for the first quarter ended March 31, 2013.
The result showed a decline of 89.91 per cent in their consolidated net profit compared to the corresponding quarter of the last year, which was of Rs 1,246.76 crore.
The company said the loss was primarily due to “absence of contribution from exclusivities” present in the corresponding quarter last year.
The CEO and Managing Director, Arun Sawhney, said India and key emerging markets of East Europe, CIS and Africa, and West Asia returned strong growth. “The focus on differentiated products gained momentum during the quarter as we improved our market share in Absorica and received the rights to market Desevenlafaxine in the US. We also continued to work towards optimising overhead and other expenses,” he said in a statement.
The company said its consolidated global sales for the quarter were Rs 2439.8 crore compared with Rs 3,709 crore in the corresponding quarter of 2012.
“On like-to-like basis sales grew in double digits over the corresponding quarter,” the release added.
The company’s sales in India grew by 11 per cent at Rs 542.7 crore, while in North America it stood at Rs 689.2 crore.
In East Europe, Ranbaxy recorded sales of Rs 360.4 crore, a growth of 15 per cent over the corresponding quarter. In West Europe, sales were Rs 201.8 crore, a decline of 18 per cent over the corresponding quarter of 2012. In Africa and West Asia, 23 per cent growth was reported at total sales worth Rs 298.3 crore. In Asia-Pacific and Latin American countries, sales for the quarter were Rs 165.9 crore.
The company claimed that the lower sales in comparison to the corresponding quarter of previous fiscal were due to large contribution to sales from exclusivity opportunities in that quarter.
“The company also gained over 50 per cent of the market share in Cevimeline hydrochloride 30 mg capsules in the US, the authorised generic product of Daiichi Sankyo, marketed under the brand name Evoxac,” the statement added.
jigeesh.am@thehindu.co.in