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Wednesday, October 30, 2013

Ranbaxy slumps after posting loss for July-Sept quarter


 A general view of the office of Ranbaxy Laboratories is pictured at Gurgaon, on the outskirts of New Delhi, June 13, 2013. REUTERS/Adnan Abidi/Files
(Reuters) - Shares in Ranbaxy Laboratories Ltd(RANB.NS) fell over 3 percent after the drugmaker posted losses for a second straight quarter on Tuesday, hurt by foreign exchange charges and a one-time write-off related to one of its plants under an import ban by the U.S. health regulator.

Net loss in July-September was 4.5 billion rupees compared with a profit of 7.5 billion rupees a year earlier, it said on Tuesday.

At 9:25 a.m., Ranbaxy was trading 4.4 percent lower at 368 rupees.
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