Sun Pharma posts surprise quarterly loss on one-time charge

Image
Reuters
Last Updated : Nov 13 2018 | 4:17 PM IST

(Reuters) - Sun Pharmaceutical Industries Ltd, India's largest drugmaker by market capitalisation, posted a surprise quarterly loss on Tuesday, hurt by a one-time charge due to a legal settlement.

Net loss came in at 2.19 billion rupees ($30.15 million) for the quarter ended Sept. 30, compared with a profit of 9.12 billion rupees a year earlier, Sun Pharma said https://www.bseindia.com/xml-data/corpfiling/AttachLive/45c41034-691b-4a84-84b4-a2e0e0f6d530.pdf.

Analysts on average expected a profit of 10.35 billion rupees, according to IBES data from Refinitiv.

Total revenue from operations rose 4.3 percent to 69.38 billion rupees.

($1 = 72.6425 Indian rupees)

(Reporting by Tanvi Mehta and Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Nov 13 2018 | 4:05 PM IST

Next Story