Ranbaxy Q4 net jumps 167 per cent

New Delhi, Jan 18: Ranbaxy Laboratories Ltd today reported a 167 per cent rise in its net profit for the fourth quarter ended December 31, 2006 at Rs 186 crore as against Rs 68.6 crore during the previous year.

The company's consolidated sales went up by 22 per cent at Rs 1,708 crore and Earnings before Interest, Depreciation, Tax and Amortisation rose 216 per cent at Rs 266.5 crore during the quarter.

''We have had an extremely good year with robust sales across markets of United States, BRICS, Africa, Latin America, Middle East and the Asia Pacific. Revenues from expanded market reach, new product flow, and acquisitions have kicked in. At the same time, our focus on streamlining costs and underlying organisational structures is leading to greater efficiencies. I believe, Ranbaxy is well positioned to gain from the opportunities emerging in the global generics space,'' Ranbaxy CEO and Managing Director Malvinder Singh said.

The company's net profit for the year ended December 31, 2006 also swung 97 per cent at Rs 520.4 crore over consolidated sales of Rs 607 crore, up 17 per cent.

The company made a total of eight acquisition transactions across the United States, Europe, Africa and India during the year.

UNI