One-time litigation loss, slow domestic business drag Sun Pharma Q2

Company misses revenue estimates too, delivering a top line of Rs 69.37 bn, up a moderate 4.3%. Analysts had expected double-digit revenue growth for the quarter

Hit by a one-time loss of Rs 12.14 billion on Modafinil antitrust litigation, and slow domestic business, pharmaceutical company Sun Pharma on Tuesday posted a consolidated loss of Rs 2.18 billion for the quarter-ended September. Excluding the exceptional expenses, the net profit stood at Rs 9.96 billion.

It had posted a profit of Rs 9.12 billion for the year-ago period, it said in a BSE filing.

Earlier, in the April-June quarter of FY18, it had posted a surprise net loss of Rs 3.2 billion due to a Rs 9.5-billion settlement related to its Modafinil drug used to treat excessive sleep disorders. This