Sun Pharma loss at Rs 2277crore
Sun Pharmaceutical Industries on Monday said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March, mainly on account of a one-time exceptional loss.
The Mumbai-based drug major had reported a net profit of Rs 894 crore in the January-March period of 2020-21.
Consolidated sales from operations stood at Rs 9,386 crore against Rs 8,464 crore in the year-ago period.
During the period under review, the company said it incurred a one-time cost of Rs 56.35 crore for restructuring operations in certain countries. Total loss cited as an exceptional item during the fourth quarter stood at Rs 3,936 crore.
For the year ended March, the company reported a consolidated net profit of Rs 3,273 crore. The same stood at Rs 2,904 crore in FY2021.
Revenues from operations stood at Rs 38,426 crore in the last fiscal. It was Rs 33,233 crore in 2020-21.
The company said its unit, Taro Pharmaceutical Industries, had acquired Alchemee, formerly The Proactiv Company (TPC), from Galderma.
Accordingly, the results are not comparable to the earlier periods, it added.
Sun Pharma managing director Dilip Shanghvi said: “FY2022 was a good year with a strong topline and EBITDA growth. All our geographies have recorded double-digit growth and profitability has improved”.
The speciality business continues to ramp up strongly, with global sales recording an 81 per cent growth to reach $315 million in FY2022, he added.