Ranbaxy Labs reports Rs465-crore net loss for July-September quarter
09 Nov 2011
Ranbaxy Laboratories Ltd has reported a net loss (after tax and minority interest) of Rs464.58 crore for the quarter ended 30 September 2011, against a net profit of Rs307.94 crore for the quarter ended 30 September 2010. Total income of the company has increased to Rs2,197.56 crore during the quarter ended 30 September 2011, from Rs2,021.58 crore during the quarter ended 30 September 2010.
Ranbaxy Laboratories Ltd, majority owned by Japan's Daiichi Sankyo, also reported a stand-alone net after-tax loss of Rs439.20 crore for the quarter ended 30 September 2011, against a net profit of Rs221.77 crore for the quarter ended 30 September 2010.
Total stand-alone income has increased to Rs1,529.26 crore during the quarter ended 30 September 2011, from Rs1,242.48 crore during the quarter ended 30 September 2010, unaudited results released by the company showed.
Ranbaxy said its profitability has been impacted adversely by the requirement to mark-to-market (MTM) its outstanding transactions of long-dated derivatives as well as the forex-denominated loan.
Consolidated sales of the country's largest drugmaker for the September 2011 quarter were up at Rs2,028 crore, against Rs1,880 crore in the same quarter last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs233 crore (forming 11 per cent of sales) against Rs138 crore in the previous year quarter.
''Ranbaxy's focus on long term improvement of its base business and margins has begun to reflect in the company's performance. This is resulting from an increased focus on strengthening manufacturing processes while realigning our products and markets for value creation,'' Arun Sawhney, CEO and managing director of Ranbaxy, said.