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Sun Pharma incurred an exceptional loss worth Rs 322.87 crore in Q1, which dragged its net profit lower. Excluding that, the company's bottomline was well above analyst expectations
The fall in the bottomline was partly due to certain one-time charges totalling Rs 323 crore. The company also incurred a one-time transitional cost of Rs 51 crore on the relocation of Alchemee operations from California to New York.
Sun Pharma Q1FY24 net profit fell 2% YoY to Rs 2023 crore due to exceptional items worth Rs 323 crore. However, excluding exceptional items, net profit for Q1FY24 grew 13.8% to Rs 2345 crore. Earnings for interest, tax, depreciation, and ammortisation (EBITDA) grew 15.5% to Rs 3332 crore in Q1.
Sun Pharma's Profit After Tax (PAT) fell by 1.8 per cent YoY to Rs 2,022 crores against Rs 2,060 crores in the corresponding quarter of the previous year., , Sun Pharma q1, sun pharmaceuticals, sun pharmaceuticals q1 results, sun pharma q1 results, pharmaceutical
Consolidated net profit is seen declining 1.4% YoY to Rs 2,033 crore. Indias largest pharmaceutical company by market capitalization is scheduled to release its earnings on Thursday.