New Delhi: Drug major Ranbaxy Laboratories’ consolidated profit after tax (PAT) on Tuesday plunged to Rs 304.4 crore for the first quarter ended March 31, 2011. The company's PAT for the quarter is significantly lower from Rs 960.6 crore that it had posted during the same period last year.

The company's consolidated net sales stood at Rs 2,146.8 crore for the first quarter, while the same was Rs 2,484.7 crore in the same period last year.

Ranbaxy Laboratories, however, said the figures were not comparable as it had witnessed a significant jump in sales in the same period last year through the launch of antiviral, Valacyclovir with 180 days of exclusive marketing rights in the US in the last quarter of 2009.

The US Food and Drug Administration (USFDA) grants FTF (First-to-file) status to a company for a product if it is the first to successfully apply and get approval to launch a generic copy of a patented drug.

"Revenue and profitability numbers for Q1 2010 and 2011 are not strictly comparable because of the varying FTF contributions to the overall results," it said.

On a standalone basis, the company reported a net loss (from ordinary activities after tax) of Rs 52.9 crore for the first quarter ended March 31, 2011.

The drug maker's domestic pharma business recorded sales of Rs 435.7 crore for the first quarter, of which sales from the consumer healthcare business contributed Rs 59 crore.

In North America, the company registered sales of Rs 769.1 crore in the quarter due to higher contribution of FTF sales. The company had reported sales of 701.8 crore in the region in the same period previous fiscal.

The company's sales in Europe stood at Rs 336.5 crore in the quarter. In Asia Pacific region, sales were at Rs 76.3 crore, while the same for CIS region was at Rs 118.7 crore.

In Africa sales stood at Rs 201.8 crore during the quarter.

The company posted sales of Rs 72 crore In Latin America during the quarter. Shares of Ranbaxy on Tuesday closed at Rs 449.10 on the BSE, up 1.66 per cent from their previous close.

(Agencies)