Ranbaxy Q3 net loss widens to Rs1,030 crore on forex woes
1 min read . Updated: 28 Jan 2015, 08:25 PM IST
PremiumNet sales for the quarter fell 9.51% from a year-ago to `2,618.85 crore from `2,893.99 crore
Mumbai: Ranbaxy Laboratories Ltd on Wednesday said its loss widened to ₹ 1,029.73 crore for the December quarter from ₹ 158.94 crore in the same period a year ago.
Net sales for the quarter fell 9.51% from a year-ago to ₹ 2,618.85 crore from ₹ 2,893.99 crore.
Tax expenses for the quarter rose 805% to ₹ 888.19 crore from ₹ 85.14 crore a year ago.
“Ranbaxy recorded good growth in India, Russia, APAC (Asia Pacific) and LATAM (Latin America) during the quarter. However, overall sales were impacted by global currency depreciation in some markets", Arun Sawhney chief executive and managing director said.
At 3.04pm, Ranbaxy Laboratories shares fell 1.5% to ₹ 696.35 on the BSE, while the exchange’s benchmark Sensex shed 0.16% to 29524.38 points.
