Ranbaxy Ltd has posted a profit after tax & minority Interest of Rs 1013.00 million for the quarter ended June 30, 2005 as compared to Rs 1958.00 million for the quarter ended June 30, 2004. Total Income has increased from Rs 13076.00 million in Q2-04 to Rs 13727.00 million for the quarter ended June 30, 2005.
On a standalone basis, the Company has posted a profit after tax of Rs 764.90 million for the quarter ended June 30, 2005 as compared to Rs 1849.50 million for the quarter ended June 30, 2004. Total Income (net of excise) has increased from Rs 9581.60 million in Q2-04 to Rs 10073.50 million for the quarter ended June 30, 2005.
According to a company release, the quarter under review (Q2, 05) witnessed recovery after a soft beginning in Q1, with sales in almost all geographies demonstrating an improvement vis-à-vis the trailing quarter. However, in the US, market pricing conditions continued to remain soft, adversely affecting the performance for the quarter as well as the half-year.
Commenting on the Company's results, Dr. Brian W. Tempest, CEO & Managing Director, RLL, said, "The Q2 '05 results are an improvement over Q1 '05 and the future performance of the Company will be driven by new product introductions and volume growth in the USA, along with a stronger performance from other regions. We are also focusing our efforts towards implementing certain cost control initiatives that will provide impetus to our overall business."
For Q2, Global Sales at USD 309 mn (Q2 2004: USD 279 Mn), showed an increase of 11% in dollar terms. This was driven by an all-round improved performance in the Company's key markets. Ranbaxy's three significant geographies, USA, Europe and BRIC countries, jointly clocked USD 231 mn in sales, recording an increase of 9%.
Meanwhile, Ranbaxy has informed BSE that the Board of Directors of the Company has approved the appointment of Ravi Mehrotra as an Additional Director on the Board of Directors of the Company w.e.f. July 28, 2005. He is the President for Franklin Templeton Asset Management (India) Pvt. Ltd.