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Sun Pharma In The News

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Sun Pharma Q2 profit up 19% at Rs 598 crore


DRUG maker Sun Pharma­ceutical Industries on Sun­day reported 19 per cent growth in net profit to Rs 598 crore for the quarter ended September 30, on account of robust perform­ance across its businesses.
In the year-ago period, the company had a net profit of Rs 503.65 crore, Sun Pharma said in a statement.
The company's total in­come rose to Rs 1,894.60 crore during the July-Sep­tember quarter of the pres­ent financial year from Rs 1,331.42 crore in the year-ago period, registering a gain of 42 per cent.
Sun Pharma CMD Dilip Shanghvi said, "Perfor­mance delivered this quarter. ... though partly aided by the exchange rate move­ment, is a clear reflection of the steady effort made across all parts of our business towards long term sustainable growth and profitability.
"India business main­tains the growth in prescription share with our key customers. In the US and other international markets, work continues on enriching the product pipeline and on strengthening the quality and regulatory processes," he added.
The company said India's branded generic sales stood Rs 705 crore during the quarter, registering a growth of 15 per cent over the same period last year, and accounting for 37 per cent of total sales. Sale of generic formulations in markets outside of India and the US accounted for $56 million in the second of the current financial year.
Sun Pharma's subsidiary, Israel-based Taro Pharmaceutical Industries, has registered a net profit of $59 million, a massive growth of 218 per cent. On a standalone basis, Sun Pharma's net profit increased to Rs 437.55 crore in the second quarter ended September 30, from Rs 345.72 crore in the year-ago period. The company's standalone total income climbed to Rs 938.65 crore in the second quarter of this financial year, from Rs 796.22 crore in 2010-11.