Sun Pharma March quarter profit up 92%

Total income of Sun Pharma increases 17% to Rs7,599 crore from Rs6,505 crore; US unit Taro Pharma reports weak fourth-quarter earnings


Sun Pharma was in news after its US arm received a summons from the antitrust division of the US department of justice, asking it to appear before a grand jury there. Photo: Mint
Sun Pharma was in news after its US arm received a summons from the antitrust division of the US department of justice, asking it to appear before a grand jury there. Photo: Mint

Mumbai: Sun Pharmaceutical Industries Ltd, India’s largest drug maker, said fiscal fourth-quarter profit rose 92%.

Net profit rose to Rs.1,714 crore in the quarter ended 31 March from Rs.889 crore in the year earlier.

Total income increased 17% to Rs.7,599 crore from Rs.6,505 crore.

On Monday, shares of Sun Pharma fell 1.57% to Rs.812.50 on BSE, while the exchange’s benchmark Sensex gained 0.27% to 26,725.60 points. The earnings were reported after the end of trading on Monday.

Taro Pharmaceutical Industries Ltd, the US unit of Sun Pharma, reported weak fourth-quarter earnings. Net sales of Taro rose 8.6% to $265 million. Net income attributable to Taro was $115 million compared to $152.3 million. Its net income was unfavourably impacted by an $80 million fluctuation in foreign exchange (FX), Taro said in its statement.

Sun Pharma was in news after its US arm received a summons from the antitrust division of the US department of justice, asking it to appear before a grand jury there.

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