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Forex losses and US import ban hit Ranbaxy in fourth quarter

This article was originally published in Scrip

Executive Summary

Ranbaxy Laboratorieshas reported a loss of Rs6.79 billion ($142 million) for the fourth quarter ended December 31st, dented by foreign exchange losses, adoption of an accounting standard aimed at improved transparency and the ongoing US import alert on its products for alleged good manufacturing practice (GMP) violations.

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