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Sun Pharma consolidated net sales decline by 14%, net profit by 77% in Q3

Our Bureau, Mumbai
Wednesday, February 14, 2018, 17:15 Hrs  [IST]

Sun Pharmaceuticals Industries has suffered heavy setback during the third quarter ended December 2017 and its consolidated net profit declined sharply by 76.8 per cent to Rs. . 400 crore from Rs. 1,722 crore in the corresponding period of last year. Its consolidated net sales declined by 14.1 per cent to Rs. 6,598 crore from Rs. 7,683 crore. Its other operating income also declined to Rs. 55 crore from Rs. 242 crore. Its EBIDTA declined by 38.6 per cent to Rs. 1,582 crore from Rs. 2,576 crore. With lower net profit its EPS declined to Rs. . 1.5 from Rs. . 6.1 in the last period.

For the nine months ended December 2017, Sun Pharma’s consolidated net sales declined by 17.4 per cent to Rs. 19,355 crore from Rs. 23,439 crore. Its net profit declined by 83.3 per cent to Rs. 1,079 crore from Rs. 6,461 crore. The company has provided Rs. 950 crore as an exceptional item in respect of litigation in respect of Modafinl. EPS declined to Rs. 3.6 from Rs. 23.9.

Dilip Shanghvi, Managing Director of the Company said, “Our Q3 performance reflects a gradual improvement in profitability over the first half of this year, despite a  challenging US generic pricing environment. During the quarter, we took another step forward in enhancing our specialty business by reporting acceptance of NDA filing for OTX-101 by the US FDA. We will continue to evaluate opportunities in the specialty segment to further enhance this business."

 

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