New Delhi, July 25: Pharma major Ranbaxy announced a 21% increase in net profit on a consolidated basis to Rs 206 crore in the second quarter ended June 30, ‘03. The company also reported a 24% topline growth this quarter to Rs 1,134.9 crore ($241m). Its US operations generated revenues of $101m in this quarter, accounting for 42% of the company’s global sales.
On a standalone basis, Ranbaxy Laboratories (India) reported a 20% growth in total sales to Rs 858 crore (Rs 714.4 crore) and a 42% jump in net profits to Rs 196 crore (Rs 138.4 crore) in the second quarter.

An improved performance in the last two months has helped Ranbaxy to achieve a 5.2% growth in the Indian market in the second quarter as against the market growth of 4.2%.
The company also received $1.9m as the first tranche of royalty payments from Bayer for the NDDS drug, Ciprofloxacin OD 500 mg. The royalty is for the quarter ended March 31, ‘03. Bureau Report