Ranbaxy Laboratories, a Rs.9,958 crore leading pharma major, has posted strong financial performance during the first quarter ended March 2012 on account of launch of atorvastatin and amlodipine in US and other markets, strengthening of Rupee against US Dollar, foreign exchange gains and resumption of exports to the USA from its Indian facility.

Ranbaxy's consolidated profit jumped by 310 per cent to Rs.1,247 crore from Rs.304 crore in the corresponding period of last year. Its EBDITA improved by 132.6 per cent to Rs.1,152 crore from Rs.495 crore. Its consolidated net sales also increased by 72.6 per cent to Rs.3,695 crore from Rs.2,141 crore. With impressive growth in bottom line, earnings per share improved to Rs.29.56 as against Rs.7.23 in the last period. Its other operating income and other income increased by 61 per cent to Rs.228 crore. Interest cost declined by 53 per cent to Rs.18.66 crore from Rs.39.33 crore. It gain Rs.344.72 crore on foreign currency option derivatives as compared to Rs.1.98 crore in the similar period of last year.

With the announcement of impressive performance Ranbaxy scrip moves up by Rs.14.30 to Rs.508 in the afternoon today on BSE.

Arun Sawhney, CEO and managing director, said, “The focus on key products and markets, while maintaining emphasis on further strengthening quality and compliance standards has had a positive impact on the performance of Ranabxy during the quarter. The company is working towards creating a sustainable, profitable, growing business in the long run with differentiated, branded generics business at its base.”

The company's sales in international market increased by 88 per cent to Rs.3,192 crore from Rs.1,698 crore in the similar quarter of last year and that in India improved by 13.5 per cent to Rs.504 crore from Rs.444 crore. The sales in North America increase significantly 172 per cent to Rs.2,093 crore from Rs.769 crore. USA had healthy base business sales and continued sale of 2 exclusivities viz atorvastating and amlodipine plus atorvastatin. Its sales in Europe and CIS increased to Rs.508 crore from Rs.455 crore. Some of the sales growth is impacted by the weaker Euro against the Dollar.

Emerging markets contributed $232 million accounting for over 32 per cent of total sales. Developed markets recorded $470 million of sales and contributed 64 per cent to total sales for the company. API and others accounted for the remaining revenue of $34 million for the quarter.

Ranbaxy launched India's first new drug, Synriam for he treatment of plasmodium falciparum malaria, in adults. During the quarter, ten regulatory agencies from across the globe including the US FDA, WHO, European Union, African regulatory authorities, inspected its API and Dosage Form facilities, in India and various locations across the world. It made 53 dosage form filings and received 20 approvals. For APIs it made 13 DMF submissions during the quarter ended March 2012.

Ranbaxy established a new manufacturing base in Morocco, paving the way for a direct business presence in North Africa. Its Mohali manufacturing facility began supply of atorvastatin tablets to the US market after receiving approval from the US FDA in April 2012.