Sun Pharma records Rs 912 crore profit, 59% dip in Q2

Pharma major Sun Pharmaceutical Industries said today its consolidated net profit dropped by 59.19 per cent to Rs 912.12 crore for the quarter ended on September 30, 2017, compared to the year-ago quarter,resulting net profit margin of 14 per cent. In a filling to Bombay Stock Exchange, Sun Pharmaceutical Industrie s said the company had posted a net profit of Rs 2,235.14 crore for the corresponding period of the previous fiscal. The shares of Sun Pharmaceutical Industries closed today at Rs 526.15 on BSE, down 1.19 per cent from previous close.

The overall total revenue from operations stood at Rs 6,650.34 crore. It was Rs 8,260.11 crore in the same period of previous year. The company's India sales accounted for Rs 2,221 crore, a growth of 11 per cent over Q2 last year, while US finished dosage sales were recorded at $309 million down by 44 per cent over Q2 last year. The firm's rest of the world sales were $111 million, which grew by 40 per cent over Q2 last year.

Dilip  Shanghvi,  Managing  Director  of  the  Company in a BSE filing said: "A  challenging  US  generic  pricing  environment  coupled with continued investments in building our global specialty business has impacted our Q2 performance. We expect it to  gradually  improve  in  the  second half  of  this  year."