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Sun Pharma In The News

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Sun Pharma Q2 net up 15% at Rs 1,572 crore

NEW DELHI: Sun Pharma on Thursday said its consolidated net profit rose by 15 per cent to Rs 1,572 crore for the second quarter ended September 30.

The drug major had posted a net profit of Rs 1,362 crore during the same period of previous fiscal.

Net sales of the company rose to Rs 4,751 crore for the second quarter, up 13 per cent, from the same period of previous fiscal, Sun Pharmaceutical Industries said in a filing to the BSE.

"Our Q2 performance was strong and continued to achieve high level of profitable growth, in-line with our expectations," Sun Pharma managing director Dilip Shanghvi said.

The company remains focused on strengthening its existing businesses and developing a differentiated and specialty product basket as well as planning for the Ranbaxy integration, he added.

In a separate filing, the company said its board has approved merger of Sun Pharma Global Inc, a wholly owned foreign subsidiary of the company, with itself, with effect from January 1, 2015.

Sun Pharma shares closed marginally up 0.26 per cent at Rs 908.60 apeice on the BSE.