Tag Archives: Quarter

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.

More Painful Quarters for European Automakers

European automotive majors could see more struggle in coming quarters as the automobile sales have been dropping in the recent months. With bleak outlook for future months, the auto majors are having no option but to cut staff and reduce plant costs.

Major auto companies operating in European region are expecting years of low sales due to austerity measures by European governments. With continued plunge in sales of new vehicles, the companies have to reduce their operating costs.

In year 2012, the car sales dropped 8.2 per cent in the European Union nations. The new vehicle registrations in Germany were down by 10% this February compared to last year. For the same period, the sales in France were lower by 12% and in Italy were lower by 17percent.

Many companies are betting on the growing markets like India and Brazil. By shifting production base to these countries, the automobile companies are able to maintain a strong hold in the developing nations.