November 8, 2012 / 9:27 AM / 5 years ago

India's Sun Pharma Q2 net falls 46.5 pct on Protonix provision

MUMBAI, Nov 8 (Reuters) - India's Sun Pharmaceutical Industries reported a 46.5 percent drop in quarterly net profit after it set aside 5.84 billion rupees ($108.02 million) 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. ($1 = 54.0650 Indian rupees) (Reporting by Kaustubh Kulkarni; Editing by Jijo Jacob)

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