Headline results for the first quarter:
Note: All changes are versus the prior-year period unless otherwise stated
What the company said:
Managing director Dilip Shanghvi said Sun Pharmaceutical's performance in the first quarter "reflects the impact of the global COVID-19 pandemic and consequent lockdown across markets and is not an indicator of the underlying strength of our business." He noted that "despite challenging conditions, we have done well and have not lost market share for any of our key specialty products in the US [and] we have also maintained our market share in the Indian domestic market."
In explaining its quarterly loss, Sun Pharma said its first-quarter sales last year had included a one-time contribution from the special business in the US, and therefore "the numbers are not strictly comparable." Analysts were expecting the company to record a profit of INR 13.9 billion ($186 million) for the quarter.
To read more Top Story articles, click here.