Jan. 16: Pharma major Ranbaxy Laboratories Ltd today reported a 151 per cent rise in net profit at Rs 605.4 crore for the year ended December 31, 2002, as against Rs 241.3 crore in the previous year.
Its turnover increased 42 per cent to Rs 2,759.8 crore from Rs 1,939.5 crore in the previous year, the company said.
The pharma multinational registered a growth of 78 per cent in export sales at Rs 1,835.6 crore as against Rs 1,029.1 crore in the previous year. The consolidated global sales stood at Rs 10,913 crore for the quarter ended December 31, 2002, and Rs 38,320 crore for the year 2002.
For the quarter ended December 31, 2002, the company posted a net sales of Rs 808.8 crore, a growth of 42 per cent, as against Rs 776.4 crore while its net profit grew by 323 per cent at Rs 212.7 crore as against Rs 50.3 crore, it added.
Gesco profit dips
Great Eastern Shipping Co Ltd has recorded a net profit of Rs 47.74 crore for the third quarter ended December 31, 2002. This marks a fall of 32 per cent over Rs 70.51 crore in the corresponding quarter last year. The total income declined to Rs 240.91 crore from Rs 293.67 crore last year. While the poor results could be attributed to lower freight rates, the company exuded optimism in the light of firm freight rates.
G E Shipping pointed out that though economic indicators suggest global recovery is yet to gain the desired momentum, due to other fundamental developments influencing the market, freight rates seem to remain stable in the short run.
Indo Rama Q3 net soars
Indo Rama today announced net profit at Rs 38.93 crore for the third quarter ended December 31, 2002 on a gross turnover of Rs 663.87 crore. For nine months ended December 2002, the company reported a net profit of Rs 113.36 crore on a turnover of Rs 1,1817.43 crore, the company said here.