Ranbaxy Laboratories is trading lower by 2.4% at Rs 490, extending its previous day’s 3% fall on reporting a net loss of Rs 580 crore for the quarter ended June 30, 2012, as against profit of Rs 243 crore in a year ago period due to foreign exchange loss. Net sales however, grew 55% to Rs 3,174 crore on year-on-year basis.
The pharmaceutical company said it has recorded a loss of Rs 599 crore on foreign currency derivatives in the second quarter ended June 30, 2012, compared to a gain of Rs 112 crore a year earlier.
The stock opened at Rs 496 and hit a low Rs 489 on the NSE. A combined 310,827 shares have changed hands on the counter in morning deals on both the exchanges.
