Ranbaxy Laboratories Ltd on Friday reported a loss of Rs 777.77 crore, on a stand alone basis, for the first quarter ended March 31, 2009, against a profit of Rs 131.4 crore in the corresponding quarter last year. This is primarily due to foreign exchange losses.
Ranbaxy’s consolidated revenues have been hit by the ban imposed by the US Food and Drug Administration on 30 drugs manufactured by the company at its Paonta Sahib plant. Barring India and the Asia Pacific region, the company saw a decline in its revenues from all other regions.
The company said that during 2009, it expects to achieve sales of approximately Rs 7,000 crore and loss of Rs 800 crore on a consolidated basis.
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