Sun Pharma incurred an exceptional loss worth Rs 322.87 crore in Q1, which dragged its net profit lower. Excluding that, the company s bottomline was well above analyst expectations
The fall in the bottomline was partly due to certain one-time charges totalling Rs 323 crore. The company also incurred a one-time transitional cost of Rs 51 crore on the relocation of Alchemee operations from California to New York.
Sun Pharma Q1FY24 net profit fell 2% YoY to Rs 2023 crore due to exceptional items worth Rs 323 crore. However, excluding exceptional items, net profit for Q1FY24 grew 13.8% to Rs 2345 crore. Earnings for interest, tax, depreciation, and ammortisation (EBITDA) grew 15.5% to Rs 3332 crore in Q1.
Sun Pharma s Profit After Tax (PAT) fell by 1.8 per cent YoY to Rs 2,022 crores against Rs 2,060 crores in the corresponding quarter of the previous year., , Sun Pharma q1, sun pharmaceuticals, sun pharmaceuticals q1 results, sun pharma q1 results, pharmaceutical
Consolidated net profit is seen declining 1.4% YoY to Rs 2,033 crore. Indias largest pharmaceutical company by market capitalization is scheduled to release its earnings on Thursday.