Ranbaxy Q4 net loss declines sharply to Rs 158.48 crore

Pharma major Ranbaxy Laboratories on Wednesday reported a drastic drop in net loss at Rs 158.48 crore during the fourth quarter ended December 31, 2013.

The company had posted a net loss of Rs 492.44 crore in the corresponding quarter of the last financial year (2012-13), Ranbaxy said in a regulatory filing to the stock exchanges.

It had recorded a net loss of Rs 454.16 crore in Q3 of this fiscal.

Total income from operations of the company rose to Rs 2,893.99 crore from Rs 2,711.21 crore during the same period last year.

Earlier this month, Ranbaxy Laboratories signed an agreement with EPIRUS Switzerland GmbH for BOW015, a biosimilar version of Infliximab, prescribed to treat rheumatoid arthritis.

The product will be introduced in India and other emerging markets soon, the company had said.

Shares of the company were trading at Rs 328.70, up 2.16 per cent on the BSE.