Ranbaxy Laboratories on Friday posted a net loss of ₹73.65 crore for the quarter ended March 31.

The pharma major had recorded a net profit of ₹125.75 crore for the quarter ended March 31, 2013.

Ranbaxy’s net sales during the March quarter stood at ₹2,436.1 crore, rising by only 1.04 per cent from ₹2,411.1 crore in the same quarter of the previous fiscal. EPS stood at ₹1.73 against ₹2.97.

Arun Sawhney, Chief Executive Officer and Managing Director, said: “Despite multiple challenges, Ranbaxy met its sales guidance and continued to build on its strengths.

“At the same time, we continue to work closely with the regulatory agencies to address their concerns.”

“The company achieved its sales guidance of ₹13,000-13,500 crore for the 15-month period ended March 2014,” Ranbaxy said in a statement.

The company, which is moving to a fiscal year accounting method from the calendar year method, announced a net loss of ₹1,085.25 crore during the 15-month period from January 1, 2013, to March 31, 2014.

The company has been in regulatory concerns related to drug quality and faces sanctions from the US Food and Drugs Administration. Ranbaxy’s scrip fell by 1.26 per cent during the day to close at ₹463.60.

(This article was published on May 9, 2014)
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