Ranbaxy posts loss of Rs 2,982 crore for Oct-Dec
Mumbai: Ranbaxy Laboratories Ltd, India's top drugmaker by sales, reported a quarterly loss of Rs 29.83 billion, mainly due to a provision related to a probe by the US Justice Department.
The company said it set aside Rs 26.48 billion as a provision towards settlement of the probe related to compliance issues at the drugmaker's manufacturing facilities in the United States and India.
Ranbaxy, majority owned by Japan's Daiichi Sankyo Co, said consolidated net sales soared 79.2 percent in December quarter to Rs 37.38 billion.
Valued at USD 3.85 billion, shares in Ranbaxy fell 21.2 percent in October-December when the benchmark healthcare index was little changed.