Indian pharmaceutical firm, Ranbaxy Laboratories has reported a higher than expected results for the fourth quarter of the financial year till March 2012.
The company's consolidated sales increased 55 per cent at Rs 3,700 crore during the fourth quarter of the compared to corresponding quarter of the previous year. Net profit of the company increased more than 310 per cent to Rs 1246.8 crore in the quarter compared to Rs 304.4 crore in the same quarter of 2011.
The higher than expected net profit in the quarter was mainly due to a gain of Rs 345 crore during the quarter. The Earnings before interest, tax, depreciation and amortization (EBITDA) of the company was recorded at 27 per cent of sales at Rs 1,015.2 crore compared to Rs 426.1 crore. Analysts were expecting the company to record EBITDA at 22.3 per cent. The company saw high sales of Cholesterol buster drug Lipitor.
"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 Ranbaxy during the quarter," Mr Arun Sawhney, Chief Executive Officer and Managing Director, Ranbaxy, said in a company statement.
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