Ranbaxy Q3 Loss Widens to Rs 1,030 cr

Published: 29th January 2015 05:59 AM  |   Last Updated: 29th January 2015 05:59 AM   |  A+A-

HYDERABAD: Rising foreign exchange losses widened Ranbaxy Laboratories Ltd’s consolidated net loss to Rs 1,029.72 crore for the third quarter ended December 2014 as against Rs 158.94 crore during the same period a year ago.

Net sales of the company plunged to Rs 2,597.59 crore in Q3 of the current fiscal compared to Rs 2,858.96 crore the previous fiscal.

“Ranbaxy recorded good growth in India, Russia, APAC & LATAM during the quarter. However, overall sales were impacted by global currency depreciation in some markets,” said Arun Sawhney CEO & Managing Director, Ranbaxy.

During the current quarter, the company said it reviewed the carrying amount of an asset representing Minimum Alterate Tax (MAT) Credit of Rs 822.7 crore and has decided to provide for the same on grounds of conservation.

According to Ranbaxy, branded and over the counter category contributed Rs 1,420.2 crore accounting for 57 per cent of the total sales during the quarter.

Generics including first-to-file opportunities and others posted Rs 1,167.4 crore of sales during the quarter, it added.

Geographically, the company’s domestic sales stood at Rs 590.9 crore, a growth of 2 per cent the corresponding quarter. In North America, sales during the quarter stood at Rs 896.3 crore.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp