Ranbaxy in the red, logs Rs 679 cr loss in Oct-Dec

Ranbaxy Laboratories Limited, the wholly-owned subsidiary of Daiichi-Sankyo, the Japanese pharma major, reported a loss of Rs 679 crore for the three months ending December.

Ranbaxy Laboratories Limited, the wholly-owned subsidiary of Daiichi-Sankyo, the Japanese pharma major, reported a loss of Rs 679 crore for the three months ending December on Thursday.

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The figure indicates a downturn from the same period last year when the company reported a profit of Rs 187.8 crore.

Net sales however, have seen a marginal, six per cent increase to Rs 1909.6 crore, up from 1795.1 crore a year ago. Yearly consolidated net sales were at Rs. 7250.7 crore, and registered a growth of 8 per cent over last year’s figure of Rs 6692.7 crore, the company said in a statement on Thursday.

The results were significantly affected by three major non-cash factors, the company said. The USFDA ban on import of some of Ranbaxy’s products cost the company Rs 84.13 crore. Other than that, Ranbaxy incurred Rs 84.13 crore due to Forex loss and Rs 27.73 crore due to US-related provisions.