Shares of Sun Pharma fell over 4 per cent today after the firm reported weak earnings for the quarter ended March 2022. The firm reported a consolidated net loss of Rs 2,277 crore in the last quarter, on account of a one-time exceptional loss.
The Mumbai-based drug firm had reported a net profit of Rs 894 crore in the January-March period of 2020-21. The stock slipped 4.12 per cent to Rs 851.5 against the previous close of Rs 885.35 on BSE. It was the top loser on both Sensex and Nifty today. On Nifty, the stock fell 4.17 per cent to Rs 851.20 against the previous close of Rs 888.30.
The share opened 3.14 per cent lower at Rs 860.20. Shares of Sun Pharma trade higher than 200-day moving averages but lower than 5-day, 20-day, 50-day and 100-day moving averages. Sun Pharma stock has gained 27.82 per cent in a year and risen 1.04 percent in 2022.
A total of 2.15 lakh shares of the firm changed hands amounting to a turnover of Rs 18.52 crore on BSE. The market cap of the firm fell to Rs 2.04 lakh crore. Sales from operations stood at Rs 9,386 crore in Q4 against Rs 8,464 crore sales in the year-ago period.
The company incurred a one-time cost of Rs 56.35 crore for restructuring operations in certain countries during the last quarter.
Total loss cited as an exceptional item during the fourth quarter, stood at Rs 3,936 crore. The company reported a consolidated net profit of Rs 3,273 crore in the last fiscal against Rs 2,904 crore profit in FY21. Revenues from operations rose to Rs 38,426 crore in last fiscal against Rs 33,233 crore in 2020-21.
The company said its board has proposed a final dividend of Rs 3 per share for FY22. This is in addition to the interim dividend of Rs 7 per share paid in FY22, taking the total dividend for FY22 to Rs 10 per share compared to Rs 7.5 per share for FY21.
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