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Sun Pharma stock price is under pressure after a flash loss in the fourth quarter

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The company reported a net loss of Rs 2,227.38 crore for the quarter under review, compared to a net profit of Rs 848 crore a year ago. Revenue for the quarter rose 11% from last year to Rs 9,386.08 crore.

Sun Pharma: The company incurred a loss during the quarter compared to last year’s profit; Revenue growth of 11 percent year over year. The major pharmaceutical company posted a loss of Rs 2,277.2 crore in the quarter ending March 2022 due to an exceptional loss, against a profit of Rs 894.1 crore in the same period last year. EBITDA increased by 14.6% yoy to Rs 2,279.7 crore in Q4 FY22. Revenue increased by 11% yoy to Rs 94,46.8 crore in Q4 FY2022, with a 16% increase in formula sales in India, 5% in the US Formula sales in emerging markets increased 7% and formula sales in the rest of the world increased 7%
The share price fell a percentage in the morning session on May 31, the day after the company announced its fourth-quarter earnings.

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On May 30, the drug company reported a surprise loss for the quarter ending March 2022 (FY22 Q4), in which it received a one-time charge.

The Mumbai-based company reported a net loss of Rs 2,227.38 crore for the quarter under review, compared with a net profit of Rs 848 crore a year ago. Revenue for the quarter rose 11 per cent from last year to Rs 9,386.08 crore.

Exceptional items for the quarter were Rs 3,935.75 crore compared to Rs 672.81 crore last year. Exceptional items include liquidations and provisions related to Taro Pharmaceuticals and Ranbaxy.

Sun Pharma’s US sales, which account for 31 percent of total sales, increased 5 percent year over year to $389 million. The pharmaceutical manufacturer’s sales in India rose 16 per cent to Rs 3,095.60 crore, while sales in emerging markets grew 7 per cent to $206 million in the quarter under review.

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