Category Archives: Pharmaceuticals

Ranbaxy Reports Loss of Rs 454 Crore for Quarter Ending September

Ranbaxy Laboratories has reported Rs 454 crore loss for quarter ending September 2013 on 3.4% rise in revenues. The biggest pharmaceutical company in India has been suffering for past few years due to regulatory troubles with US FDA.

Ranbaxy Labs reported profit of Rs 754 during the same quarter last year. The company also suffered on account of stock write-off worth Rs 70 crore at Mohali plant. The company registered forex loss of Rs 360 crore during the quarter.

The revenue was up by 3.4% at Rs 2802 crore. The company registered Rs 480 crore sales in East Europe. The sales in West Europe were down by 31 percent. The company managed to grow marginally in Africa and Middle East.

The company has disappointed investors on many occasions in the past couple of years. Even after the Japanese pharmaceutical company took over the control of Ranbaxy, things haven’t improved much. The stock seems over-valued at current levels, considering the issues like FDA alerts on all its plants in India.

Brooks Labs Earns More Than 30% On Listing

Brooks Laboratories Ltd, a pharmaceutical contract research and manufacturing services firm, got listed at Rs 110 a share as compared to its issue price of Rs 100.

At 09:58 a. m., the company’s shares trimmed the majority of its early gains and were ruling 14% up at Rs 114.

The stock price also touched an intraday high of Rs 131.10, transforming more than 30% gain in trade today.

Mr. Atul Ramchal, CMD, Brooks Labs stated that the company anticipates its top-line to go up by 35-40% during the existing fiscal year on account of superior exports.

He added that the company’s management is optimistic on recording PAT of Rs 20 cr during the subsisting financial year.

Brooks Laboratories caters to antibiotic, antituberculosis therapeutic sections.

The company said that it will utilize the proceeds for establishing a novel manufacturing division at JB SEZ Pvt Ltd, Panoli, Gujarat for a variety of pharmaceuticals formulations.