Aurobindo Pharma has dipped 5% to Rs 117 after reporting a consolidated net loss of Rs 80 crore for the second quarter ended September 30, 2011, due to an exchange fluctuation loss or Rs 185 crore during the quarter.
The company had reported a net profit of Rs 198 crore in the corresponding quarter of previous fiscal. Net sales too, declined 9% to Rs 960 crore from Rs 1050 crore on year-on-year basis.
“The first half of the current fiscal has been challenging on account of lower formulation sales, and full impact of the US Food and Drug Administration alert on our Unit VI Cephalosporin manufacturing facility. The disruption in operations due to regional unrest and notional loss on restatement of foreign currency borrowings, also impacted," Ramprasad Reddy, chairman, Aurobindo Pharma said in a release issued to the stock exchanges.
A combined 200,000 shares have changed hands on the counter in morning deals.
