Sun Pharma posts surprise Rs 2,184 cr Q1 pre-tax loss on one-time expense

Firm's US revenue dips 33.5%; one-time loss of Rs 3,633 cr pertains to $213.3 mn pzayment by Taro, a Sun Pharma subsidiary, for settlement of anti-trust cases in the US

Sun Pharmaceutical Industries, the country’s largest drugmaker, reported a surprise loss in the first quarter hit by one-time charges. The company’s US business posted a 33.5 per cent decline during the quarter, while India sales were up 3.2 per cent on a year-on-year (YoY) basis. Consolidated sales from operations at Rs 7,467 crore, a decline of about 9.6 per cent over same quarter last year. 

Sun Pharma posted a loss before tax of Rs 2,183.9 crore, as compared to a profit before tax of Rs 1,647.4 crore in the corresponding quarter previous year. 

The firm posted a net loss of Rs 1,655