Ranbaxy's Full-Year Profit Rises 14.2%

Ranbaxy of India has recorded a 14.2% rise in net profits to 1.5 billionrupees ($41.9 million) for the year ended March 31, 1997. Pretax profits were 1.9 billion rupees, up 26.4%, and earnings per share were 11.20 rupees, compared with 30.43 rupees a year earlier.

The firm's sales for the year were 10.7 billion rupees, an increase of 23%. Exports grew 28.3% to 5.2 billion rupees, and accounted for 49% of total turnover.

Parvinder Singh, chairman of Ranbaxy, who has declared his intention to divest 6% of his direct holding in the company (Marketletter June 16), has said that he is reviewing the plan following concerns raised by some investors.