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Ranbaxy net jumps 79% to Rs 159 cr

New Delhi, Oct. 17: Ranbaxy Laboratories Limited (RLL) has recorded a 79 per cent jump in net profit at Rs 159 crore for the third quarter ended September 30 against Rs 89 crore in the corresponding period last year.

Ranbaxy’s third quarter net sales grew 49.4 per cent to Rs 804 crore from Rs 538 crore in the same period last year.

The Ranbaxy board at a meeting held yesterday in New Jersey, US, took on record the unaudited results for the quarter.

The US has emerged as one of the key markets for Ranbaxy and this is the first time the company held its board meeting there, said a company spokesperson.

Sales from US subsidiaries during the nine months ended September 30, 2002, increased to $ 207 million from $ 70 million in the corresponding period last year, an increase of 196 per cent.

The company claims its generic version of GlaxoSmithKline’s antibiotic product Ceftin (Cefuroxime Axetil), launched in March in the US, achieved sales in excess of $ 75 million till September.

For the nine-month period ended September 30, Ranbaxy’s net profit shot up 106.9 per cent to Rs 392 crore as against Rs 189 crore in the corresponding nine months last year. Net sales for the nine-month period rose 39.7 per cent to Rs 2071 crore.

The consolidated net profit of RLL and its subsidiaries for the third quarter ended September 30 was Rs 148 crore and for the nine months it was Rs 417 crore. The consolidated global sales of RLL and its subsidiaries for the quarter ended September 30 was Rs 1046 crore and for the nine months period it was Rs 2751 crore.

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