Ranbaxy's 2nd-qtr profits soar 118%

Indian drugmaker Ranbaxy Laboratories' second-quarter 2007 net profit was 2.66 billion rupees ($70.0 million), up a massive 118% on the year-earlier quarter. In currency terms, the rupees' 6.6% gain against the US dollar cut the company's expenditure on overseas debt. However, even without this effect, earnings would still have been around 1.60 billion rupees, equivalent to a 53% expansion.

Revenues for the period grew 12% to 16.24 billion rupees, with US sales also increasing 12% to $102.0 million. Turnover from emerging markets grew 44% to 8.77 billion rupees, representing 54% of total sales.

Busy program of drug launches ahead