Ranbaxy reports 651% increase in Q3 net profit

New Delhi, Oct 19 (UNI) Ranbaxy Laboratories Ltd (RLL) today reported a whopping 651 per cent hike in its net profit for the third quater ending September 30, 2006, at Rs 140.4 crore, as against Rs 18.7 crore for the corresponding priod last year.

The company's consolidated sales stood at Rs 1640.4 crore, up by 26 per cent, as compared to Rs 1330.9 crore during the same quarter a year ago.

The Board of Directors also approved the payment of an interim dividend of 50 per cent at Rs 2.50 per share of par value of Rs 5 each for the year ending December 31, 2006.

''These results can be attributed to the growth being driven in some of our key geographies and efficiencies gained from sustained cost containment measures,'' Ranbaxy CMD Malvinder Mohan Singh told reporters here.

The financial results in the fourth quarter are expected to be more stronger and owing to further increase in American markets, he added.

The company registered 25 per cebt growth in the US market at 96 million dollars, and dominates the market with over 50 per cent of the market share.

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