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Sun Pharma Shares Drop Over 4% After Reporting Loss In March Quarter

The Mumbai-based drug major on Monday reported a net profit of Rs 894 crore in the January-March period of 2020-21.

Pharma sector
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Shares of Sun Pharmaceutical Industries fell by over 4 per cent in morning trade on Tuesday a day after the company said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March 2022, mainly on account of a one-time exceptional loss.

The company's stock declined 4.12 per cent to Rs 851.50 on the BSE.

At the NSE, it tumbled 4.17 per cent to Rs 851.20 apiece.

The Mumbai-based drug major on Monday reported a net profit of Rs 894 crore in the January-March period of 2020-21.

Consolidated sales from operations stood at Rs 9,386 crore in the fourth quarter.

The company had reported sales from operations at Rs 8,464 crore in the year-ago period.

During the period under review, the company said it incurred a one-time cost of Rs 56.35 crore for restructuring operations in certain countries.

Total loss cited as an exceptional item during the fourth quarter, stood at Rs 3,936 crore.
 

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