The company’s consolidated revenues in the quarter rose 28 per cent year-on-year to Rs 9,719 crore, which was sharply above analysts’ expectations.
During the quarter, the company reported a one-time exceptional loss of Rs 631 crore in relation to payments made for settlement of antitrust litigations filed by the US Department of Justice against arm Taro Pharmaceutical Industries as well as impairment of certain assets.
Sun Pharma said that it made a provision of Rs 442 crore in the quarter ended June in relation to the anti-trust lawsuit settlement with the US government. Further, the company took charge of Rs 150 crore during the quarter for impairment of acquired intangible assets under development and Rs 38 crore write down of assets under IND AS 105.
…More to come
