The Board of Directors of Ranbaxy Laboratories Limited announced the consolidated global results for the quarter (Q2) and half year (H1) ended June 30, 2003.

The net consolidated sales of Ranbaxy Laboratories Limited and its subsidiaries was at Rs.1134.90 crore (USD 241 Mn), registering a growth of 24 per cent (2002: Rs.9,151Mn, USD 187 Mn). Operating profit before interest, depreciation and amortization was Rs.313 crore, (Rs. 2,182 Mn), up 43 per cent. Operating profit before tax and extra ordinary items was at Rs.269.40 crore (Rs. 2,095 Mn), an increase of 29 per cent over the corresponding period last year. Profit before tax at Rs.282.60 crore (Rs.2,144 Mn), recorded a growth of 32 per cent, while Profit after tax at Rs. 206.20 crore. (Rs 1,709 Mn), was up 21 per cent.
(Conversion to USD at Rs.47.13 per USD for 2003 and Rs.48.95 per USD for 2002)

For H1, the Company recorded net consolidated sales of Rs. 2245.10 crore (USD 473 Mn) , registering a growth of 36 per cent.(2002: Rs.16,496 Mn, USD 338 Mn). Operating profit before interest, depreciation and amortization was Rs.582.40 crore, (Rs.3,337 Mn),up 75 per cent. Operating profit before tax and extra ordinary items at Rs.494.50 crore (Rs.2,813 Mn), recorded an increase of 76 per cent over the corresponding period last year. Profit before tax at Rs. 517.90 crore (Rs. 3,680 Mn), registered a growth of 41 per cent, while Profit after tax was at Rs. 380.10 crore. (Rs. 2,687 Mn), up 42 per cent.
(Conversion to USD at Rs.47.43 per USD for 2003 and Rs.48.76 per USD for 2002)

For Q2, Ranbaxy Laboratories Limited recorded sales of Rs. 858 crore (2002: Rs. 7,144 Mn), registering a growth of 20 per cent. Domestic sales at Rs. 305.20 crore (Rs. 2,645 Mn.), recorded an increase of 15 per cent while Export sales at Rs. 552.80 crore (Rs. 4,499 Mn) registered a growth of 23 per cent. Net sales after deducting trade discounts was at Rs.827.70 crore (Rs. 6,831 Mn), an increase of 21 per cent. Profit before tax and extra-ordinary items at Rs. 236.10 crore (Rs.1,697 Mn), recorded a growth of 39 per cent. Profit after tax was at Rs. 196.80 crore (Rs. 1,384 Mn.), up 42 per cent.

Earnings per share on fully diluted basis was Rs.10.57 (2002: Rs.7.45)

For H1, the Company recorded sales of Rs. 1907.30 crore (2002: Rs. 12,673 Mn), registering a growth of 51 per cent. Domestic sales at Rs. 525.40 crore (Rs. 4,998 Mn.), reflected an increase of 5 per cent while Export sales at Rs. 1381.90 crore (Rs. 7,675 Mn) recorded a robust growth of 80 per cent. Net sales after deducting trade discounts at Rs.1852.60 crore (Rs. 12,120 Mn), were up 53 per cent. Profit before tax and extra-ordinary items at Rs. 565.90 crore (Rs. 2,354 Mn), recorded a growth of 140 per cent. Profit after tax was at Rs. 476.60 crore (Rs. 2,333 Mn.), an increase of 104 per cent.

Earnings per share on fully diluted basis was Rs.25.62 (2002: Rs.12.55)