Profit

Sun Pharma Reports Surprise Loss Of 219 Crore Rupees In September Quarter

Total revenue from operations rose 4.3 per cent to Rs 6,938 crore.

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Sun Pharma Reports Surprise Loss Of 219 Crore Rupees In September Quarter

Sun Pharma's profit was hurt by a one-time charge due to a legal settlement in Q2


Sun Pharmaceutical Industries, the country's largest drug maker by market capitalisation, posted a surprise quarterly loss on Tuesday, hurt by a one-time charge due to a legal settlement.

Net loss came in at Rs 219 crore ($30.15 million) for the quarter ended September 30, compared with a profit of Rs 912 crore a year earlier, Sun Pharma said.

Analysts had on an average expected a profit of Rs 1,035 crore, according to IBES data from Refinitiv.

Total revenue from operations rose 4.3 per cent to Rs 6,938 crore.

Shares in Sun Pharma closed 4.8 per cent higher at Rs 561.50 apiece on the NSE, whose benchmark index Nifty settled nearly 1 per cent higher at 10,582, before the earnings announcement by the drug maker.

($1 = Rs 72.6425)



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