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Ranbaxy posts Q3 loss as forex hurts

Posted by Yogesh on Friday, 31 October, 2008

NEW DELHI, Oct 31 (Reuters) – Ranbaxy Laboratories, India’s top drug maker by sales, on Friday reported standalone net loss of 3.53 billion rupees ($71.5 million) for the September quarter, on foreign exchange losses.

Ranbaxy, in which Japan’s Daiichi Sankyo has taken a controlling stake, had posted net profit of 1.68 billion rupees in the year-ago quarter. Reuters

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