Ranbaxy Q4 loss at whopping Rs 2,893 crores

Ranbaxy Laboratories, posted its biggest quarterly loss following a legal settlement with the US Department of Justice investigation.

The company posted whopping loss of Rs 2,983 crore for the quarter ended December 31, 2012.

Foreign exchange losses which were pegged at Rs 1,080 crore, further aggravated the company's losses. Sales jumped 79% during the Q4 from Rs 2,091 to Rs 3,741, on the back of "Lipitor" sales in the US.

The shares of the company on BSE were trading lower at Rs 435.80, down Rs 4.50 at 10: 50 am IST.

Ranbaxy Laboratories is India's largest pharmaceutical company, with a presence in 23 of the top 25 pharmaceutical markets of the world.

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