Ranbaxy Q4 net loss at Rs 492.44 cr on Atorvastatin calcium tablets recall

 PTI   New Delhi     Last Updated: February 26, 2013  | 00:00 IST

Drug major Ranbaxy Laboratories on Tuesday reported a net loss of Rs 492.44 crore for the fourth quarter ended December 31, 2012 mainly on account of voluntary recall of Atorvastatin calcium tablets and mark to market loss.

The company had posted a net loss of Rs 2,982.76 crore for the corresponding quarter previous fiscal, Ranbaxy said in a statement.

Consolidated net loss includes net loss after tax, minority interest and share in loss of associate, it added.

Consolidated net sales of the company stood at Rs 2,670.80 crore for the quarter under consideration as against Rs 3,752.01 crore for the same quarter last fiscal.

Commenting on the results Ranbaxy CEO & MD Arun Sawhney said: "2012 was a mixed year for us. While we delivered our strongest ever sales performance monetising our major key product opportunities, we also faced challenges, primarily the recall of atorvastatin in the US market at the end of the year."

Shares of Ranbaxy Laboratories on Tuesday closed at Rs 417.30 per scrip on BSE, down 3.66 per cent from their previous close.

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