Companies

Ranbaxy Q3 loss widens to ₹1,030 cr

Our Bureau New Delhi | Updated on January 24, 2018 Published on January 28, 2015

Arun Sawhney, CEO, Ranbaxy Laboratories   -  Bloomberg

Ranbaxy Laboratories has widened its loss during the quarter ended December 31, 2014, at ₹1,029.72 crore. In the same quarter of the previous fiscal, the company had posted net loss of ₹158.94 crore.

The company’s total income has also spiralled to ₹2,618. 8 crore during the December quarter of this fiscal against ₹ 2,893.9 crore in the year-ago quarter.

Chief Executive Officer Arun Sawhney attributed the loss, despite “good growth in India, Russia, Asia-Pacific and Latin America during the quarter” to global currency depreciation in some markets.

The company suffered foreign exchange loss of ₹132.6 crore during the third quarter. A high tax expense of ₹888.1 crore was also responsible for the staggering losses recorded by the company.

The company, which is set to merge with Sun Pharma, noted a growth of 12 per cent in India.

The company’s scrip on the BSE took a massive hit on Wednesday on the back of the disappointing number. The Ranbaxy stock closed down 1.01 per cent at ₹699.75.

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Published on January 28, 2015
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