November 13, 2018 / 10:35 AM / a month ago

India's Sun Pharma posts surprise quarterly loss on one-time charge

Nov 13 (Reuters) - Sun Pharmaceutical Industries Ltd , India’s largest drugmaker by market capitalisation, posted a surprise quarterly loss on Tuesday, hurt by a one-time charge due to a legal settlement.

Net loss came in at 2.19 billion rupees ($30.15 million) for the quarter ended Sept. 30, compared with a profit of 9.12 billion rupees a year earlier, Sun Pharma said here

Analysts on average expected a profit of 10.35 billion rupees, according to IBES data from Refinitiv.

Total revenue from operations rose 4.3 percent to 69.38 billion rupees. ($1 = 72.6425 Indian rupees) (Reporting by Tanvi Mehta and Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)

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