Sun Pharma Q4 profit rises 7% to Rs1,309 crore, beats estimates
Sun Pharma net profit rose 7% to Rs1,308.96 crore in the three months ended 31 March, from Rs1,223.71 crore in the year-ago quarter
Bengaluru: Drug major Sun Pharma on Friday posted 6.96% increase in its consolidated net profit at Rs1,308.96 crore for the fourth quarter ended March 2018. The company had reported a net profit of Rs1,223.71 crore in the same period of the previous fiscal.
Total revenue from operations rose to Rs6,977.10 crore for the fourth quarter. It stood at Rs7,136.96 crore during the same period of 2016-17.
For the year ended 31 March, the drug major posted a net profit of Rs2,161.55 crore, down 68.96% from Rs6,964.37 crore in 2016-17, Sun Pharma said in a regulatory filing.
Total revenue from operations for 2017-18 stood at Rs26,489.46 crore. It stood at Rs31,578.44 crore in 2016-17.
During the year, the company and one of its wholly-owned subsidiaries entered into a settlement regarding a product with certain plaintiffs — Apotex Corporation and Retailer Purchasers and agreed to pay $147 million (around Rs950 crore), Sun Pharma said.
The company’s board approved a dividend of Rs2 each per share of Re1 each for the year ended 31 March 2018. The dividend is expected to be paid on or about last week of September, 2018, it added.
The board also approved the composite scheme of arrangement among Sun Pharma and Sun Pharma (Netherlands) BV and Sun Pharmaceutical Holdings USA Inc and their respective members.
Shares of Sun Pharma ended 0.97% up at Rs466.55 apiece on the BSE today.
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