Sun Pharma Q2 net falls 46.5 pct on Protonix provision
MUMBAI (Reuters) - Sun Pharmaceutical Industries (SUN.NS) reported a 46.5 percent drop in quarterly net profit after it set aside 5.84 billion rupees towards a possible compensation in a patent dispute case related to drug Protonix.
The Mumbai-based drugmaker said consolidated net profit fell to 3.2 billion rupees during fiscal second quarter ended September from 5.98 billion rupees a year earlier. Net sales rose 40.2 percent to 26.57 billion rupees.
Analysts had estimated the net profit at 7.68 billion rupees, according to Thomson Reuters I/B/E/S. (Reporting by Kaustubh Kulkarni; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's second-biggest lender by assets booked a 69 percent fall in quarterly profit on Friday, due to higher provisions for bad loans and a surge in tax expenses. Full Article