Indian pharmaceutical industry ranks 3rd in the world in terms of volume, quality and range of medicines it manufactures. Cost of producing medicine in India is considerably lower than that of the USA and approximately half of that of European countries which confers a competitive edge to India over others. Current domestic market of Indian pharmaceutical industry is worth US$13.8 billion (PWC, 2013). There are hundreds of pharmaceutical companies in India so a comparative study of their profitability is always needed. Present study is an effort to give an insight into profitability measures of selected pharmaceutical companies in India. Top five pharmaceutical companies in India have been selected for study based on the size of their current market capitalization including Sun Pharmaceuticals, Lupin, Dr. Reddys Lab, Cipla and Aurobindo Pharma. Further in order to draw a conclusion, profitability ratios of these companies has been analyzed and ranked on the basis of their composite performance during the period of study i.e. FY 2012 to FY 2016. Present study shows Indian pharmaceutical companies are doing well on account of profitability measures; Lupin is far ahead of its competitors whereas Sun Pharma emerged as the least performer during the study period.