Q4 Results 2022: Sun Pharma, Natco Pharma, Omaxe declare March quarter results; key highlights here

Q4 Results 2022: Listed companies including Sun Pharmaceuticals, Natco Pharma and Omaxe today announced their March quarter results. Here are key highlights of the quarterly earnings.

Sun Pharma Q4 Results 2022: reports March quarter net loss at Rs 2,277 cr

Sun Pharmaceutical Industries on Monday said its consolidated net loss stood at Rs 2,277 crore for the fourth quarter ended March 2022, mainly on account of a one-time exceptional loss.

The Mumbai-based drug major had reported a net profit of Rs 894 crore in the January-March period of 2020-21.

Consolidated sales from operations stood at Rs 9,386 crore in the fourth quarter. The company had reported sales from operations at Rs 8,464 crore in the year-ago period.

During the period under review, the company said it incurred a one-time cost of Rs 56.35 crore for restructuring operations in certain countries.

Total loss cited as an exceptional item during the fourth quarter, stood at Rs 3,936 crore.

For the year ended March 2022, the company reported a consolidated net profit of Rs 3,273 crore. The same stood at Rs 2,904 crore in FY21.

Revenues from operations stood at Rs 38,426 crore in the last fiscal. It was Rs 33,233 crore in 2020-21.

During the quarter and year ended March 2022, the company said its unit Taro Pharmaceutical Industries has acquired Alchemee, formerly The Proactiv Company (TPC), from Galderma.
Accordingly, the results for the quarter and year ended March 2022 are not comparable to the earlier periods presented, it added.

Sun Pharma Managing Director Dilip Shanghvi said: "FY22 was a good year with strong topline and EBITDA growth. All our geographies have recorded double-digit growth and profitability has improved despite rising costs".

The speciality business continues to ramp up strongly, with global Ilumya sales recording 81 per cent growth to reach USD 315 million in FY22, he added.

"Our India business continues to grow faster than the market, leading to an increase in market share. We continue to focus on expanding our global speciality business, growing all our businesses and improving operational efficiencies," Shanghvi stated.

The company said its board has proposed a final dividend of Rs 3 per share for FY22.

This is in addition to the interim dividend of Rs 7 per share paid in FY22, taking the total dividend for FY22 to Rs 10 per share compared to Rs 7.5 per share for FY21.

The company's board also approved the re-appointment of Dilip Shanghvi as the Managing Director for a further term of five years with effect from April 1, 2023, up to March 31, 2028, subject to the approval of the shareholders.

The board also appointed Pawan Goenka as the Lead Independent Director with immediate effect.

Sun Pharma shares today ended 1.75 per cent down at Rs 888.10 apiece on the BSE.

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Omaxe Q4 results 2022: company posts Rs 36.62 cr net loss in March quarter

Realty firm Omaxe Ltd on Monday reported a consolidated net loss of Rs 36.62 crore for the quarter ended March 2022.

The company had posted a net profit of Rs 0.54 crore in the year-ago period, according to a regulatory filing.

Total income fell to Rs 172.86 crore in the fourth quarter of the last fiscal from Rs 191.87 crore a year ago.

Omaxe posted a net loss of Rs 161.61 crore in the last fiscal against a net loss of Rs 235.21 crore in 2020-21.

Total income rose to Rs 637.94 crore in 2021-22 fiscal from Rs 514.59 crore in the preceding financial year.

Omaxe shares today ended at Rs 93.50, up over 1 per cent from the Friday closing price.

Natco Pharma Q4 results 2022: reports Q4 net loss at Rs 50.5 cr

Natco Pharma on Monday reported a consolidated net loss of Rs 50.5 crore in the fourth quarter ended March 2022.

The company had posted a consolidated net profit of Rs 53 crore in the same quarter previous fiscal, Natco Pharma said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 596.8 crore compared to Rs 331.3 crore, it added.

The loss in the fourth quarter was primarily due to inventory value write-off and provision of estimated credit losses, the company said, adding its total expenses in the fourth quarter were also higher at Rs 660.2 crore against Rs 289 crore in the year-ago period.

For the fiscal ended March 2022, consolidated net profit was Rs 170 crore compared to Rs 442.4 crore, down 61.57 per cent, Natco Pharma said.

The company said its consolidated revenue from operations in FY22 stood at Rs 1,944.8 crore against Rs 2,052.1 crore in FY21.

Natco said the reduction in the profit for FY22 was primarily due to inventory value write-off and provision of receivables related to COVID-19 products, with inventory value write-off of Rs 232 crore and provision of Rs 46 crore towards estimated credit loss.

On the outlook, the company said it is confident of strong business growth during FY2022-23, led by the export business of cancer drug Lenalidomide and growth in other business segments.

Natco Pharma shares today ended at Rs 665.70, down nearly 2 per cent from the Friday closing price.