NEW DELHI : Drug major Sun Pharmaceutical Industries on Tuesday reported 53% decline in consolidated net profit at 636 crore for the fourth quarter ended on March 31, 2019.

The company had posted a net profit of 1,343 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries said in a filing to BSE.

However, the consolidated total revenue from operations rose 3% to 7,164 crore as against 6,977 crore in March 2018.

For the fiscal year ended March this year, the net profit of the company stood at 2,665.42 crore. It was 2,095.70 crore for the previous fiscal year.

Consolidated revenue from operations of the company stood at 28,686.28 crore for the fiscal year ended March 2019. It was 26,065.94 crore for the year ago fiscal year.

The company's board recommended dividend of 2.75 per share.

Dilip Shanghvi, Managing Director of the Company said, “In spite of the one-time impact for India business, our full year sales have grown by double digits. We continue to focus on executing our global specialty strategy. Ilumya is expected to gradually gain traction in US in FY20 while Cequa launch is expected in the coming months. At the same time, we are strengthening our core operations, optimizing the cost structure and enhancing our overall efficiencies."

Shares of Sun Pharmaceutical Industries closed at 412.90 on BSE, down 0.43 per cent from the previous close.

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