Ranbaxy Suffers Rs 394-Crore Loss In Q3

Ranbaxy Suffers Rs 394-Crore Loss In Q3Drug maker, Ranbaxy Laboratories registered worst ever performance for the quarter ended September 30, 2008. The company suffered a loss of Rs 394.5 crore for the reporting quarter.

It had made a profit of Rs 207 crore in the corresponding quarter last year. Ranbaxy is already acquired by Japanese major Daiichi Sankyo. It is facing tough time in the US and US food department had already banned entry of its 30 drugs.  

EBITDA margin of drug maker declined to 7.6% in the quarter which was 17.1% in the same quarter last year. Its operating profit declined to Rs 4.9 crore as compared to profit of Rs 161 crore last year. The sale of company in US dropped 7% to Rs 413.6 crore. However its overall sale grew 14.3% to Rs 1,888.4 crore for the reporting quarter.

The CEO and MD of Ranbaxy Laboratories, Malvinder Singh said that company would try to strengthen its position in the US market which is its single largest market. The company is looking for new locations which are approved by FDA. The company is also looking for acquisitions for drug supply in the US and other markets of the world.

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