Sun Pharma in the red

Sun Pharma, for Q4FY22, posted a consolidated net loss of Rs.2277 crore, which was mainly on account of a one-time exceptional loss of Rs 56.35 crore for restructuring operations in certain countries. The company also provided Rs 156.25 crore for a settlement of lawsuit in the US. The company also incurred a loss of Rs 3,723.15 crore as part of settlement of some class action lawsuit in the US. Total exceptional loss for the quarter was at Rs 3,935.75 crore.

Total revenue rose 11% at Rs.9447 crore. EBITDA was up 15% at Rs.2280 crore while margins improved 74 bps to 24.8%.

The stock price opened 3% lower at Rs.860.20 and went down over 4% to hit an intraday low at Rs.851.50.