Ranbaxy Dec-quarter net loss widens on forex loss

MUMBAI (Reuters) - Indian generic drugmaker Ranbaxy Laboratories Ltd reported a wider loss in the December quarter, hurt by foreign exchange losses and higher finance costs.

The company's net loss in the October-December period was at 10.3 billion rupees ($167.8 million), compared with a loss of 1.6 billion rupees posted in the same quarter last year, it said in a statement to the exchanges on Wednesday.

Ranbaxy, which is being acquired by larger local rival Sun Pharmaceutical Industries Ltd for $3.2 billion, has been hit by a series of regulatory sanctions in the past year due to poor production practices at its India-based plants.

 

($1 = 61.3850 Indian rupees)

(Reporting by Sumeet Chatterjee; Editing by Gopakumar Warrier)