Ranbaxy Laboratories swings to profit in Q2

Ranbaxy Laboratories, which is in the process of being acquired by larger rival Sun Pharmaceutical Industries, has reported a profit in its second quarter.

The company on Tuesday reported a profit of Rs 4.78 billion ($78 million), compared with a loss of Rs 4.5 billion a year earlier, when it took a foreign exchange charge of Rs 3.6 billion.

Shares of Ranbaxy Laboratories were trading 6.86 per cent higher at Rs 638.60 in afternoon trade on the Bombay Stock Exchange.

(Reuters)