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."