Ranbaxy's 2nd-qtr 2008 sales rise 13% to $432M

India's Ranbaxy Laboratories achieved sales of 18.29 billion rupees ($431.8 million) in the second quarter of 2008, a 12.7% increase year-on-year.

Profit after tax excluding the foreign exchange gains or losses amounted to 1.61 billion rupees, similar to the corresponding previous quarter. However, profit after tax plummetted 91% to 229.0 million rupees on currency effects, while earnings per share on a fully-diluted basis totaled 0.61 rupees versus 4.23 rupees in second-quarter 2007.

The Indian generics major said profit before finance costs, depreciation, tax and amortization totaled 3.26 billion rupees, reflecting an earnings before interest, taxes, amortization and depreciation margin of 17.8% to sales. Excluding the foreign exchange effects on translation, EBITDA margins stood at 16.8%.