Sun Pharma Q4 Results: Pharma Company Reports Net Loss of Rs 2,277 Crore

Sun Pharma said its board has proposed a final dividend of Rs 3 per share for FY22

New Delhi: Sun Pharmaceuticals on Monday reported consolidated net loss of Rs 2,277 crore for the quarter ended March 31, 2022 (Q4FY22), compared to the net profit of Rs 848 crore a year-ago period. The surprise loss was attributed due to the hit by one-time charges.

The Mumbai-based firm’s revenue for the quarter rose 11 per cent from a year ago to Rs 9,386.08 crore.

The pharma company expected to clock a profit of Rs 1,707 crore, while revenue was expected at Rs 9,576 crore, according to a Bloomberg poll.

Total loss cited as an exceptional item during the fourth quarter, stood at Rs 3,936 crore, against Rs 672.81 crore last year. Exceptional items include settlements, and provisions related to Taro Pharmaceuticals, and Ranbaxy.

In the US, Sun Pharma’s sales, which accounted for 31 per cent of its total sales, rose 5 per cent on year to $389 million. In India, its sales grew 16 per cent to Rs 3,095.60 crore, while sales in emerging markets rose 7 per cent to $206 million in the quarter under review.

Dilip Shanghvi, managing director, Sun Pharma, said, “FY22 was a good year with strong topline and Ebitda growth. All our geographies have recorded double-digit growth and profitability has improved despite rising costs. The specialty business continues to ramp up strongly with global Ilumya sales recording 81 per cent growth to reach $315 million in FY22.”

Sun Pharma’s spending on research and development stood at Rs 543.30 crore from 557.10 crore a year ago. Ebitda for the quarter rose 15 per cent to Rs 2,279.70 crore. The firm repaid $355 million debt in the fiscal year 2022.

"Our India business continues to grow faster than the market, leading to an increase in market share. We continue to focus on expanding our global specialty business, growing all our businesses, and improving operational efficiencies”, Shanghvi added.

The company said its board has proposed a final dividend of Rs 3 per share for FY22, the PTI reported. This is in addition to the interim dividend of Rs 7 per share paid in FY22, taking the total dividend for FY22 to Rs 10 per share compared to Rs 7.5 per share for FY21.