Sun Pharma posts ₹2,277 cr loss in Q4, reappoints Dilip Shanghvi as MD
Premium- The company's board has recommended a final dividend of ₹3 per equity share.
Sun Pharma posted ₹2,277 crore net loss in the fourth quarter, mainly on account of exceptional items. The company had reported a profit of ₹894 crore a year ago.
Adjusted net profit for the quarter was at ₹1,582 crore, up 18% year-on-year, after excluding the exceptional item of ₹3,935 crore and exceptional tax gain of ₹76 crore.
Revenue from operations, meanwhile, rose 11% to ₹9,446 crore during the January-March period, compared with ₹8,522 crore in the corresponding period of last year.
The company's board has recommended a final dividend of ₹3 per equity share.
The board has also approved the reappointment of Dilip Shanghvi as the Managing Director for a further term of 5 years with effect from April.
On Monday, Sun Pharma scrip closed 1.65% lower at ₹889 apiece on NSE.
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“FY22 was a good year with strong topline and EBITDA growth. All our geographies have recorded double digit growth and profitability has improved despite rising costs. The specialty business continues to ramp-up strongly with global Ilumya sales recording 81% growth to reach $315 million in FY22. Our India business continues to grow faster than market, leading to increase in market share. We continue to focus on expanding our global specialty business, growing all our businesses and on improving operational efficiencies," Dilip Shanghvi said.