Home >companies >Ranbaxy Laboratories posts Rs73 crore net loss in March quarter

Mumbai: Ranbaxy Laboratories Ltd on Friday posted a net loss of 73.65 crore in the March quarter compared with a net profit of 125.75 crore in the year-ago period.

The drug maker’s sales fell to 2,467 crore during the quarter from the year-ago’s 2,472 crore after a few drug recalls in the US and price reduction in the domestic market.

Ranbaxy is expected to be merged with rival Sun Pharmaceutical Industries Ltd through an all-stock deal worth $3.2 billion that excludes a debt transfer of $800 million that was signed in April

The firm is facing serious manufacturing compliance issues at its key export-oriented manufacturing units in India.

Its sales in the domestic market were also affected due to pricing related issues after several of if its drug products came under the newly expanded Drug (Prices Control) Order.

At 3.03pm, Ranbaxy Laboratories was trading at 460.60 on BSE, down 2% from previous close, while India’s benchmark Sensex rose 2.68% to 22,942.30 points.

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