Home ECONOMY Sun Pharma reports huge net loss for Q1

Sun Pharma reports huge net loss for Q1


Mumbai: Sun Pharmaceutical Industries Ltd on Friday reported a huge net loss of Rs 1,291 crore for the first quarter (Q1) of fiscal 2017-18 on standalone basis, which is over eight times the net loss of Rs 152 crore incurred in the same period year ago.

In a regulatory filing on the BSE, the leading drug maker said standalone revenue from operations for the quarter under review (Q1) was flat at Rs 1,803 crore as against Rs 1,800 crore in the like period year ago.

Sequentially, revenue declined 11 per cent in Q1 from Rs 2,017 crore quarter ago when the net profit was Rs 95 crore.

Loss before tax for the quarter also shot up to Rs 1,290 crore from a loss of Rs 148 crore in the same period year ago though the company posted Rs 88 crore operating profit in the last quarter (Q4) of the previous fiscal (2016-17). (IANS)