Ranbaxy surges on lower losses in Q4

Shares of Ranbaxy Labs surged nearly 6% to Rs 340 after the company reported lower loss for the quarter ended December 2013 on the back of higher US sales boosted by acne products.

The pharma major reported a lower loss of Rs 158.94 crore for the fourth quarter ended December 2013 compared with Rs 492.44 crore in the same quarter last year.

Consolidated sales of the company increased 7% to Rs 2860 crore in Q4 December 2013 compared with the same quarter in 2012.

Earnings before interest, taxation, depreciation and amortization (EBITDA) stood at Rs 270 crore in Q4 December 2013.
 

Over 13 million shares were traded on both the stock exchanges so far.