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Sun Pharma reports huge net loss for Q1

Friday - August 11, 2017 6:32 pm , Category : BUSINESS

Mumbai Aug 11 (IANS) 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
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