Ranbaxy, India's largest pharma company, has announced its first quarter results for the year 2009 and the beginning by the company has been far from pleasant.
Total income has decreased from Rs 1020.066 crore for the quarter ended March 31, 2008 to Rs 863.483 crore for the quarter ended March 31, 2009—a fall of 15 per cent for the year.
The company posted a net loss after tax of Rs 777.778 crore for the quarter ended March 31, 2009 as compared to net profit after tax of Rs 103.422 crore for the quarter ended March 31, 2008.
The major contributor to the company’ huge loss has been a hedging loss of Rs 918.8 crore. On its foreign exchange loans to the company reported a loss of Rs 124.251 crore.
Japan's Daiichi Sankyo owns some 64% of Ranbaxy.
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