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Journalism of Courage
Drug firm Aurobindo Pharma today posted a consolidated net loss of Rs 28.54 crore for the quarter ended December 31,2011,primarily on account of foreign exchange losses suffered during the quarter.
The company had posted a net profit of Rs 188.63 crore for the corresponding period last fiscal,Aurobindo Pharma said.
Net sales of the company rose to Rs 1,284.51 crore in the third quarter ended December 31,2011,from Rs 1,192.20 in the same period last fiscal.
Commenting on the results,Aurobindo Pharma Chairman Ramprasad Reddy said: “The current fiscal year has been challenging on account of full impact of the USFDA alert on our Unit 6 Cephalosporin manufacturing facility and
mark-to-market loss on foreign currency borrowings.”
“We may expect stability of rupee against USD and consequent reversal of the notional exchange fluctuation loss by year-end,” he added.
On a standalone basis,the company posted a net profit of Rs 12.93 crore for the third quarter ended December 31,2011,as against Rs 183.85 crore in the same period last fiscal.
Shares of Aurobindo Pharma settled at Rs 109.45 apiece on the BSE today,down 1.08 per cent from their previous close.
