Ranbaxy Laboratories is trading lower by 4% at Rs 400 in morning trades on NSE, extending its previous day’s about 4% fall, after reporting a lower-than-expected numbers on the profit front for the quarter ended December 31, 2012 (Q4).
The pharmaceutical company has reported a consolidated net loss of Rs 492 crore in Q4 against analyst expectations of profits.
“Profitability for Q4’12 was primarily impacted by the voluntary recall which impacted the quarter by Rs 186 crore and mark to market (MTM) loss of Rs 262 crore on long term derivative contracts and foreign currency loans owing to a weaker rupee,” Ranbaxy said in a press release.
“The main disappointment came on the operating profit margin (OPM) front which came in at 3.4% vs our expectation of 9.3%, said analyst at Angel Broking.
On the sales front, the company reported a 28.8% decline to end the period at Rs 2,671 crore against analyst expectation of Rs 2,640 crore.
The stock opened at Rs 418 and has seen a combined 562,275 shares changing hands on the counter so far on NSE and BSE.
The pharmaceutical company has reported a consolidated net loss of Rs 492 crore in Q4 against analyst expectations of profits.
“Profitability for Q4’12 was primarily impacted by the voluntary recall which impacted the quarter by Rs 186 crore and mark to market (MTM) loss of Rs 262 crore on long term derivative contracts and foreign currency loans owing to a weaker rupee,” Ranbaxy said in a press release.
“The main disappointment came on the operating profit margin (OPM) front which came in at 3.4% vs our expectation of 9.3%, said analyst at Angel Broking.
On the sales front, the company reported a 28.8% decline to end the period at Rs 2,671 crore against analyst expectation of Rs 2,640 crore.
The stock opened at Rs 418 and has seen a combined 562,275 shares changing hands on the counter so far on NSE and BSE.