Sun Pharma net down 60%
By Express News Service | Published: 15th November 2017 03:08 AM |
MUMBAI: Led by disappointing sales in the US market, drug major Sun Pharmaceutical Industries’ consolidated net profit fell 60 per cent to Rs 912.12 crore for the September 2017 quarter, against Rs 2,235.14 crore in the year-ago period.
Total revenue from operations, too, was lower at Rs 6,650.34 crore compared with Rs 8,260.11 crore.
Sales in the US stood fell 44 per cent at $309 million.
It accounts for 30 per cent of Sun’s total sales. According to Dilip Shanghvi, MD, Sun Pharma, a challenging US generic pricing environment coupled with continued investments in building its global speciality business impacted the firm’s second quarter performance, but it hopes to better the performance in the second half of the current fiscal.