Forex losses of Rs 13.50 crore caused the Chennai based drugs major Shasun Chemicals and Drugs post net losses of Rs19.04 crore for the quarter ended September 30,2008, compared with a net profit of Rs8.2 crore for the corresponding quarter of last year.
Consolidated revenues for the quarter stood at Rs219 crore, 6 per cent higher than the Rs206 crore for the corresponding previous year quarter.
Shasun said the company has decided to close down an unviable manufacturing facility at Annan with its UK subsidiary,Shasun Pharma Solutions.
The facility would be closed by end of March 2009 and products manufactured at the site would be relocated to alternative Shasun locations.