``There has been a recovery in the second quarter,'' he told The Financial Express. Singh said turnover and net profit should be better this year. Ranbaxy's turnover in April-December 1998 stood at Rs 1,064 crore with a net profit of Rs 117 crore. The corresponding figures for the same period in 1997 were Rs 945.90 crore and Rs 128.90 crore. The company's financial year has been changed to January-December. On speculation over his health, Singh said: ``Health has not played a major part in my stepping down as MD but to say that it has no role would be wrong. To some extent, my decision is influenced due to health.'' Singh said he had already turned 57 and the retirement age at Ranbaxy is 58 years. On reports of talks with some foreign pharma companies for sale of his stake, Singh said: ``it has been pure media speculation. Why should I comment on speculation.''Singh said he had been contemplating stepping down from the post of MD for quite some time.

On the role of his two sons, Singh said his elder son was already working with the company as a manager. The younger son is studying abroad and it is upto him if wants to join the company after completing his studies. Singh said he would continue to remain deeply involved in strategy, policy and discovery of new drugs in his capacity as chairman. He would also focus on insurance and hospital projects.