Shares of Sun Pharmaceutical Industries fell more than 4% in Tuesday’s deals 851 each pharmaceutical company had a consolidated net loss on BSE 2,277 crore for the fourth quarter ended March 2022, mainly on account of one-time exceptional loss.
Mumbai-based drug major reported net profit on Monday 894 crore in the January-March period of 2020-21. stood on consolidated sales from operations 9,386 crore in the fourth quarter. The company’s revenue from operations was sales 8,464 crore in the year-ago period.
During the period under review, Sun Pharma Said it has a one-time cost 56 crores for restructuring operations in some countries. The total loss, cited as an exceptional item during the fourth quarter, was 3,936 crores.
“We remain positive on Sun’s long-term outlook, with a strong India business, increased specialty sales and a focus on margin expansion through improved revenue mix and operational efficiencies. However, the recent rise in the stock price has partially impacted the growth in the near term. 961 per share.
Analysts at non-domestic brokerage Motilal Oswal remain positive on Sun Pharma shares on the back of strong outperformance in the branded generic segment of DF/ROW/EM, scale-up of the specialty portfolio and niche launches in the US generic segment. It has maintained its Buy rating with a target price of 1,040.
The board of the company has recommended the final dividend of 3 per equity share. The Board has also approved the re-appointment of Dilip Shanghvi as Managing Director, with effect from April for a further period of 5 years.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.