Sun Pharma slips to Rs 424 cr Q1 loss on weak sales, anti-trust settlement

Revenue dipped 23 per cent to Rs 6,167 crore owing to continued pricing pressure and other reasons

An one-off Rs 950 crore payment to settle an anti trust litigation coupled with weak performance in core India and US markets resulted in Sun Pharmaceutical Industries posting Rs 424 crore loss in first quarter FY 2018. In same period last year the company had posted a profit of Rs 2,037 crore. This was the drugmaker's first loss in at least 12 years.

Revenue dipped 23 per cent to Rs 6,167 crore owing to continued pricing pressure in the US, regulatory challenges and GST-led de stocking in the domestic market.

Domestic sales declined 5 per cent while US market revenue