Profits Rise 24% For First Fiscal Half Year At Ranbaxy

Ranbaxy Laboratories of India has recorded a 24% rise in profits to 956million rupees ($26.4 million) for the six months ended September 30, 1997, coupled with a 19% increase in turnover to 5.49 billion rupees compared with the same period a year ago.

While exports rose 6% on the like, year-earlier period to 2.6 billion rupees, Ranbaxy's strong growth was principally driven by a 29% leap in domestic sales of bulk and generic drugs to 3.91 billion rupees, which the company puts down to the performance of its Pharma, Stancare and Croslands divisions, its wholly-owned subsidiaries Solus and Rexcel and the Eli Lilly-Ranbaxy joint venture. Together, these have pushed the company's total market share up from 3.6% a year ago to 5.2% this year.

Internationally, Europe, Africa and the CIS saw significant growth in revenues, while in the Asia Pacific region, Ranbaxy claims to have captured 1.2% of the Vietnamese market. Operations in China are also progressing well.