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* Net profit at 6.93 bln rupees vs 229 mln a year ago
* Excluding foreign exchange gains net profit at 633 mln
* Analysts say U.S. FDA issues remain overhang on shares (Adds quotes, details, share price, byline)

NEW DELHI, July 24 - Ranbaxy Laboratories (RANB.BO: Quote, Profile, Research) smashed market forecasts as currency gains powered a massive rise in June quarter net profit, but U.S. regulatory hurdles are seen remaining a weight on shares of India's leading drugmaker by sales.

The company maintained its April forecast of a $150 million loss for 2009, chief executive Atul Sobti said, compared to $198 million net loss reported for last year.
Ranbaxy, in which Japan's Daiichi Sankyo (4568.T: Quote, Profile, Research) bought about 64 percent last year, incurred losses in the last three quarters as it was hit by huge forex losses and a U.S. ban on some products.

The U.S. Food and Drug Administration in February said Ranbaxy had sold misbranded or adulterated drugs in the United States, the company's largest market, having earlier banned imports of more than 30 generic drugs.