Sun Pharmaceutical Industries Ltd. reported net loss of ₹2,277.2 crore for the fourth quarter ended March 31 compared to net profit of ₹894 crore in the year-earlier period. This was on account of an exceptional item of ₹3,935.7 crore towards settlement payments and provisions related Taro Pharmaceuticals & Ranbaxy.
Consolidated sales from operations during the quarter at ₹9,386.1 crore, grew 11%. India formulation sales at ₹3,095.6 crore, rose 16%. U.S. formulation sales at $389 million, grew 5% and Emerging Markets formulation sales at $206 million, grew 7%.
For the full year, the company reported a net profit of ₹3,272.7 crore compared with ₹2,903.8 crore in the year-earlier period, up about 13%.
Consolidated sales from operations at ₹38,426.4 crore grew 15.6%.
India formulation sales at ₹12,759.3 crore grew 23%. U.S. formulation sales at $1,526 million, rose 12% and Emerging Markets formulation sales at $905 million grew by 16%.
The board has proposed a final dividend of ₹3 per share for the year FY22. This is in addition to the interim dividend of ₹7 per share paid in FY22, taking the total dividend for FY22 to ₹10 per share compared with ₹7.5 per share for FY21.
Dilip Shanghvi, Managing Director said, “FY22 was a good year with strong topline and EBITDA growth. All our geographies have recorded double digit growth and profitability has improved despite rising costs.”
“The specialty business continues to ramp-up strongly with global Ilumya sales recording 81% growth to reach $315 million in FY22,” he said.
“Our India business continues to grow faster than market, leading to increase in market share. We continue to focus on expanding our global specialty business, growing all our businesses and on improving operational efficiencies,” he added.
The company said it has repaid debt of about $355 million in FY22.
