Ranbaxy slumps after posting loss for July-Sept quarter
MUMBAI (Reuters) - Shares in Ranbaxy Laboratories Ltd(RANB.NS) fell over 5 percent in early trade 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. The stock recovered later.
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 1:23 p.m., Ranbaxy was trading 0.06 percent lower at 385.40 rupees.
(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)
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