Ranbaxy Reports Quarterly Loss on Settlement Provision
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Ranbaxy Laboratories Ltd. reported a quarterly loss after a January ban on U.S. imports from its Punjab factory and a one-time provision for government settlement discussions.
The Indian drugmaker reported a loss of 1.9 billion rupees ($32 million) for the three months ended June 30, compared with a loss of 5.24 billion rupees the year before, it said in a statement to the stock exchange today. That compares with the 411 million rupees median profit estimate of 13 analyst compiled by Bloomberg.