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Sun Pharmaceutical Industries has reported a consolidated net loss of Rs 424.92 crore for the quarter ended June 30, mainly due to one-time exceptional item.
The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago, Sun Pharmaceutical Industries said in a filing to the BSE today.
Consolidated total revenue from operations stood at Rs 6,208.79 crore for the quarter under consideration against Rs 8,256.26 crore in the corresponding period of the previous fiscal.
Sun Pharma and one of its wholly owned subsidiaries had entered into settlements with certain plaintiffs in respect of an antitrust litigation relating to Modafinil in July 2017, whereby the company agreed to pay an aggregate amount of $147 million.
“Since this event relates to the conditions that existed at the end of the reporting period, the corresponding Indian rupee liability at Rs 950.50 crore has been provided in the consolidated unaudited financial results and disclosed as an exceptional item,” it added.
Shares of Sun Pharmaceutical Industries ended the session at Rs 451.30 per scrip on the BSE, down 1.92 per cent from the previous close.
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