Sun Pharma skids ~3% as company posts loss of ~Rs2,227 crore in Q4FY22

31 May 2022 , 11:05 AM

Sun Pharma’s counter was trading in red today as the company posted its results for the quarter and financial year ended March 31, 2022.

The company posted a net loss of Rs2,227.38 crore for Q4FY22 as compared to a profit of Rs848 crore in the previous corresponding quarter.

The company informed that the loss in the quarter is due to a one-time exceptional loss of Rs3,936 crore.

So, the adjusted net profit for the quarter was reported at Rs1,582.1 crore, up by 18% yoy, after excluding the exceptional items of Rs3,935.70 crore and an exceptional tax gain of Rs76.4 crore.

Whereas, the company posted an 11% yoy jump in its revenue at Rs9,386.08 crore for Q4FY22 as compared to Rs8,522.98 crore in Q4FY21.

The company’s EBITDA for the quarter stood at Rs2,279.70 crore, up by 15% yoy against the previous corresponding quarter.

The board of directors approved a final dividend of Rs3 per equity share.

The company stated that it has paid debts of about US$355 million during the current financial year.

The company further approved the appointment of Pawan Goenka as Lead Independent Director and the reappointment of Dilip Shanghvi and Gautam Doshi as directors.

Sun Pharmaceuticals Industries is currently trading at Rs859.45 down by Rs28.65 or 3.23% from its previous closing of Rs888.10 on the BSE. The scrip opened at Rs860.20 and has touched intraday high and low of Rs882.80 and Rs851.50 respectively.