Analysts feel operating profit (EBITDA) may be impacted due to consent decree costs that is expected to be in single digits. They expect mark-to-market gains during the quarter but higher tax rate and weak operational performance may pull down adjusted profit.
Drug maker Ranbaxy Laboratories , which will soon become a subsidiary of Sun Pharmaceutical Industries , will declare its first quarter (April-June) results on Tuesday. Analysts expect flat growth during the quarter.
US business may be supported by launch of Diovan generic that has 180-day exclusivity and sales of Absorica but overall US business may be impacted due to ban on Toansa API plant, say analysts.
Diovan generic was launched in last week of Q1FY15 (June 27), hence the full impact will be seen in Q2FY15. Analysts expect USD 200 million of sales in FY15 from Diovan with margin of 50 percent while Absorica continued to be the key driver of the US business with market share of 19 percent.
Analysts feel operating profit (EBITDA) may be impacted due to consent decree costs that is expected to be in single digits. They expect mark-to-market gains during the quarter but higher tax rate and weak operational performance may pull down adjusted profit.
Note: The company changed its financial year to financial year from calendar year, so Q1FY15 is April-June quarter as against Q2CY13.
According to CNBC-TV18 poll estimates, analysts expect the drug maker to report profit after tax of Rs 27 crore in June quarter as against loss of Rs 524 crore in same quarter last year. The loss in previous June quarter was due to multiple exceptions of forex loss of Rs 330 crore and impairment of goodwill of Rs 120 crore.
However, revenue is likely to fall by 1.3 percent on yearly basis to Rs 2,649 crore while operating profit may slip to Rs 188 crore from Rs 200 crore and margin may decline 40 basis points to 7.1 percent during the same period.
In April, Sun Pharma acquired Ranbaxy Labs for USD 3.2 billion and said it would try to complete this acquisition by December-end.
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