The results were announced during trading hours today, 26 October 2009.
Meanwhile, the BSE Sensex was down 71.52 points, or 0.43%, to 16732.49.
On BSE, 3.19 lakh shares were traded in the counter as against an average daily volume of 5.40 lakh shares in the past one quarter.
The stock hit a high of Rs 387 and a low of Rs 373.50 so far during the day. The stock had hit a 52-week high of Rs 419.40 on 7 October 2009 and a 52-week low of Rs 133.15 on 12 March 2009.
Ahead of results, shares of Ranbaxy had risen 0.49% to Rs 372.25 on Friday, 23 October 2009. Earlier, the stock had corrected 5.40% to Rs 370.45 on 22 October 2009, from Rs 391.60 on 17 October 2009.
The stock had underperformed the market over the past one month till 23 October 2009, falling 2.87% as compared to the Sensex 0.55% rise. It outperformed the market in past one quarter, soaring 35.66% as against 10.37% rise in the Sensex.
India largest drug maker by sales has an equity capital of Rs 210.21 crore. Face value per share is Rs 5.
The current price of Rs 381.90 discounts the company's Q2 June 2009 annualised EPS of Rs 64.27, by a PE multiple of 5.94.
Total income jumped 13.55% to Rs 1365.19 crore in Q3 September 2009 over Q3 September 2008.
Earlier this month, Ranbaxy's French unit was by European Union officials as part of an investigation of generic drug practices.
The European Commission officials has launched anti-trust investigations against alleged restrictive trade practices by pharma companies.
The European Union (EU) anti-trust regulator suspects that innovator pharma companies could be colluding with their generic counterparts and indulging in unethical practices by deliberately delaying the launch of affordable generic versions of medicines in the European market. This, in turn, could be costing the European exchequers and healthcare systems a fortune, may be to the tune of billions of dollars.
Generic companies make the low-cost version of original drugs and they challenge the patent of original drugmakers so that they are able to launch their drugs before patent expiry. Several countries also give incentives to generic companies if they are able to successfully challenge and revoke drug patents because an early entry of generic drugs brings down the cost of medicine significantly.
Sometimes original drugmaker and generic companies enter into patent settlements, which allegedly block the early entry of generic drugs and infringe upon EU competition rules.
Other companies that were raided and confirmed the development include France's Sanofi-Aventis, Switzerland's Novartis and Israel's Teva Pharmaceutical Industries. If the charges are proven against any of the companies, they may have to shell out a heavy sum in fines that would be levied.
In September 2009, Ranbaxy Laboratories said it entered into a strategic in-licensing agreement with Medy-Tox Inc of South Korea, for selling a cosmetic product in India. Ranbaxy said it will launch Medy-Tox's anti-ageing medicine Neuronox in India to boost its presence in the dermatological segment.
Neuronox is the most effective anti-ageing medicine and is much superior to the available therapy options. The current market size for the drug, in India, is approximately Rs 30 crore per annum.
South Korea-based Medy-Tox is specialized in doing research in clostridium botulinum toxins and related products.
Ranbaxy Laboratories, had on 24 August 2009, received a final approval from the US Food and Drug Administration (USFDA) to make and market peptic ulcer treatment tablet Glycopyrrolate in two variants. The tablet is the generic version of Sciele Pharma's Robinul and has annual sales of $26 million in the US. Ranbaxy plans to launch the tablet in the December quarter.
Ranbaxy Laboratories had on 11 August 2009 received approval from US FDA for Sumatriptan Succinate tablets.
Ranbaxy Laboratories manufactures and markets, generic pharmaceuticals, value added generic pharmaceuticals, branded generics, active pharmaceuticals and intermediates.