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Sun Pharma Q4 Profit Falls 37% On One-Time Expenditure

By Staff

On Wednesday, Sun Pharmaceutical Industries reported a 37.1 percent decline in consolidated profit of Rs 399.8 crore for the March ended quarter due to a one-time loss of Rs 260.6 crore.

Sun Pharma Q4 Profit Falls 37% On One-Time Expenditure

The company wrote an amount of Rs 104.28 crore, including interest as an exceptional item with respect to Central excise refund claims case and also made a provision of Rs 156.36 crore for the settlement with the US Department of Justice to resolve the sales, marketing and promotion of two of its products: Levulan and Blu-u.

On the other hand, its consolidated revenue for the last quarter of the financial year 2019-20 rose 14.67 percent to Rs 8,078.03 crore from the same period a year ago.

The pharma company's board also recommended a dividend of Re 1 per equity share for the year ended 31 March 2020.

After the announcement of its results, shares of the Sun Pharma fell over 2 percent to Rs 449.

Read more about: sun pharma
Story first published: Wednesday, May 27, 2020, 18:04 [IST]
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