Ranbaxy Records Worst Ever Quarterly Loss On Forex Contracts, FDA Action; Rival Cipla Is Going Strong

MUMBAI - Signs of a deepening financial crisis became visible at India's largest drug maker Ranbaxy as it announced its first quarter results with a worst ever recorded quarterly loss of $153 million (761 crore rupees) on sales of $313 million, which fell 4 percent as compared to the same quarter last year