Ranbaxy Q4 net loss narrows to Rs 159 crore

Ramped-up sales of its acne drugs in US help, net sales up 7%

Ranbaxy Laboratories, India's biggest generic drugmaker by revenue, reported a narrower net loss in the latest quarter helped by ramped-up sales of two acne drugs in the United States.

Ranbaxy, majority owned by Japan's Daiichi Sankyo Co, on Wednesday said net loss in October-December was Rs 159 crore compared with a loss of Rs 492 crore a year earlier.

Net sales rose 7% to Rs 2,859 crore, the company said in a statement.

Revenue came in at Rs 2,894 crore as compared to Rs 2,711 crore in the year ago period.

The company reported Ebitda of Rs 270 crore and operating margin was at 9.3%.

The company said it had made a one-time Toansa-related provision of Rs 257 crore in the October-December results.

"The company continues to fully cooperate with the US FDA and take necessary steps to resolve all concerns of the US FDA at the earliest," Ranbaxy said in the statement without elaborating.

The company added that the direct impact of the ban on Toansa plant will be limited.