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Ramky Infra Q2 consolidated net profit surges two-fold to Rs40.38 crore

Ramky Infrastructure today said its consolidated net profit surged about two-fold to Rs40.38 crore for the second quarter ended September 2010 on account of increased volumes.

The company had a net profit (after minority interest) of Rs20.76 crore in the same period previous fiscal, the Hyderabad-based infrastructure player said in a statement.

The consolidated income from operations during the quarter increased by 57% to Rs559.96 crore from Rs357.49 crore in the corresponding quarter in last fiscal.
"Increase in net profit is attributable to the growth in business volume. Besides value of the projects has also gone up," Ramky Infrastructure managing director YR Nagaraja said.

The company is executing road sector contracts of Rs4,000 crore and its total work orders at present stands at Rs11,400 crore, he said.

On Thursday, Ramky Infra ended 1.32% down at Rs359.55 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.33% up at 19,930.64 points.

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Sun Pharma gets US nod for allergy, BP drugs

Sun Pharmaceutical Industries today said it had received approval from US health regulator to market generic Clarinex tablets and Tiazac capsules, used in treating nasal allergies and hypertension respectively in the American market.

The Mumbai-based firm has received approval from US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) to market a generic version of Schering Plough's Clarinex tablets, Sun Pharma said in a statement.

The company has received the approval for generic Clarinex tablets in the strength of 5mg. The tablets are indicated for allergic rhinitis or allergic inflammation of the nasal airways, it said.

Allergic Rhinitis occurs when an allergen such as pollen or dust is inhaled by an individual with a sensitised immune system and triggers antibody production.
Clarinex tablets (5mg) have annual sales of nearly $212 million in the US, it said.
The company has also received approval from USFDA for generic Tiazac capsules used for treating high blood pressure.

The generic capsules contain Diltiazem Hydrochloride extended release in strength of 120mg, 180 mg, 240mg, 300mg and 360mg  and are therapeutically equivalent to Biovail Corporation's Tiazac capsules, it said.
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The capsules are indicated for the treatment of heart diseases including hypertension and also chronic stable angina. Diltiazem Hydrochloride capsules have annual sales of nearly $46 million in the US.

On Thursday, Sun Pharma declined 0.80% to Rs2,286.50 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.33% up at 19,930.64 points.
 

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