Legal woes, decline in sales hurt Sun Pharma: Q1 key takeaways
NEW DELHI: Hurt by one-time loss, leading drugmaker Sun Pharma reported a surprising loss during the June quarter while sales declined in all regions of the world the company operates in.However, the management hailed the company's performance. They said it has done well given the challenges it faced and managed to hold its market share in India and the US.How much did the company earn?Sun Pharma reported a loss of Rs 1,655.60 crore in the quarter, sharply lower from the expectation as it recognised an exceptional item. The company’s revenues from operations also fell to Rs 7,467.19 crore, from Rs 8,259.30 crore a year ago. EBITDA was at Rs 1,725 crores, with resulting EBITDA margin of 23.1 per cent.What is that exceptional item?The company reported a one-time loss of Rs 3,633.33 crore as it provided for settlement of legal cases involving two subsidiaries Taro Pharmaceuticals and Dusa Pharmaceuticals with the US government’s Department of Justice.What regions contributed the most to revenue?Company’s India sales were at Rs 2,388 crore, growing 3.2 per cent over the corresponding quarter last year.
Legal woes, decline in sales hurt Sun Pharma: Q1 key takeaways
NEW DELHI: Hurt by one-time loss, leading drugmaker Sun Pharma reported a surprising loss during the June quarter while sales declined in all regions of the world the company operates in.However, the management hailed the company's performance. They said it has done well given the challenges it faced and managed to hold its market share in India and the US.How much did the company earn?Sun Pharma reported a loss of Rs 1,655.60 crore in the quarter, sharply lower from the expectation as it recognised an exceptional item. The company’s revenues from operations also fell to Rs 7,467.19 crore, from Rs 8,259.30 crore a year ago. EBITDA was at Rs 1,725 crores, with resulting EBITDA margin of 23.1 per cent.What is that exceptional item?The company reported a one-time loss of Rs 3,633.33 crore as it provided for settlement of legal cases involving two subsidiaries Taro Pharmaceuticals and Dusa Pharmaceuticals with the US government’s Department of Justice.What regions contributed the most to revenue?Company’s India sales were at Rs 2,388 crore, growing 3.2 per cent over the corresponding quarter last year.