Sun Pharma reported a net loss of Rs.1656 crore in the Jun-20 quarter but that largely due to an exceptional loss. However, the operating metrics were better than analyst expectations. Sun had reported net profit of Rs.1388 crore in the Jun-19 quarter. In the Jun-20 quarter, net profit before one-time loss stood at Rs.1449 crore.

Total revenues from operations stood at Rs.7585 crore for Jun-20 a fall of 9.4%. At the operating level, EBITDA fell by 7.6% to Rs.1844 crore. However, EBITDA margins expanded marginally by 24.3%. Its subsidiary, Tara Pharma, posted 27% lower sales revenues for the quarter at $118 million.

The huge loss in the books of Sun Pharma was because Taro had reported a net loss for Q1 at $435 million of which it had reported settlement and loss contingencies of $478.9 million. This was one time settlement charge payable to the US Department of Justice following detailed investigations into the US generic pharmaceutical industry.