Sun Pharma posts Rs 2,227 crore net loss in Q4 of 2021-22

Mumbai (Maharashtra) [India], May 30 (ANI): Sun Pharmaceuticals Industries on Monday reported a consolidated net loss of Rs 2,227.38 crore for the quarter ended March 2022 as against a net profit of Rs 848 crore recorded in the corresponding period of the previous year, hit by one-time charges on settlement of a pending litigation in the US.
The company's exceptional items for the fourth quarter of 2021-22 stood at Rs 3,935.75 crore against Rs 672.81 crore in the corresponding quarter of 2020-21. Exceptional items include settlements, and provisions related to Taro Pharmaceuticals, and Ranbaxy.
"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," said Dilip Shanghvi, Managing Director, Sun Pharmaceuticals Industries.
Sun Pharma's EBITDA rose by 14.6 per cent year-on-year to Rs 2,279 crore in the fourth quarter of 2021-22. The company posted EBITDA margin at 24.3 per cent for the quarter under review.
"The specialty business continues to ramp-up strongly with global Ilumya sales recording 81 per cent 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 speciality business, growing all our businesses and on improving operational efficiencies," Shanghvi said in a statement.
The company's consolidated sales from operations rose by 11 per cent year-on-year to Rs 9,386.1 crore in the January-March quarter. (ANI)