Pharma major Ranbaxy Laboratories on Tuesday reported a consolidated net loss of Rs 492 crore for the fourth quarter ended December 31, mainly due to its voluntary recall of Atorvastatin calcium tablets from the US, and mark-to-market loss.

The net loss included net loss after tax, minority interest and share in loss of associate, the company said.

The company posted a net loss of Rs 2,983 crore for the corresponding quarter previous fiscal, it said.

Ranbaxy’s consolidated net sales stood at Rs 2,671 crore for the October-December quarter under consideration against Rs 3,752 crore for the same quarter previous year.

“While we delivered our strongest ever sales performance monetising our major key product opportunities, we also faced challenges, primarily the recall of Atorvastatin in the US market at the end of the year,” said Arun Sawhney, Chief Executive Officer and Managing Director.

Shares of the company closed at Rs 417 on the BSE on Tuesday, down 3.66 per cent from their previous close.

(This article was published on February 26, 2013)
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