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Sun Pharma In The News

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Sun Pharmaceutical Industries Ltd


Sun Pharmaceutical Industries Ltd, in its Q3FY2010 results, reported a net revenue of Rsl,021 crore, up 11.2%. It was in line with our estimate of Rs 1,024 crore, driven by domestic formulation business and export segment (excluding Caraco Pharmaceutical Laboratories Ltd'Sun Pharma's subsidiary). On the domestic front, sales grew by 24% year-on-year (y-o-y) to Rs533 crore, while export formulation (excluding Caraco) grew by 32% y-o-y. Sun Pharma reported a healthy operating profit margin (OPM) of 36.1%, down on a y-o-y basis, but ahead of our estimate of 28.3% on the back of lower employee and re'search and development costs. It reported net profit of Rs338.9 crore, down 17.1% y-o-y, but ahead of our estimate of Rs286.5 crore, driven by operating profit margin expansion.