Ranbaxy slumps after posting loss for July-Sept quarter

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Ranbaxy Lab has reported a net loss of Rs 4.5 billion in July-September quarter compared with a profit of Rs 7.5 billion a year earlier. Ranbaxy Lab has reported a net loss of Rs 4.5 billion in July-September quarter compared with a profit of Rs 7.5 billion a year earlier.
SummaryDrugmaker has reported loss of Rs 450 crore compared with a profit of Rs 750 crore a year earlier.

Shares in Ranbaxy Laboratories Ltd fell over 3 per cent after the drugmaker posted losses for a second straight quarter on Tuesday, hurt by foreign exchange charges and a one-time write-off related to one of its plants under an import ban by the U.S. health regulator.

Net loss in July-September was 4.5 billion rupees compared with a profit of 7.5 billion rupees a year earlier, it said on Tuesday.

At 9:25 a.m., Ranbaxy shares were trading 4.4 per cent lower at Rs 368.

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