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Sun Pharma Q3 net dips 5% to Rs 1,471 cr on slower sales in US

Sun also said sales in its emerging markets rose 14% and those in the rest of the world were up 33%

Aneesh Phadnis  |  Mumbai 

Drug maker Sun Pharmaceutical Industries reported 4.7 per cent fall in its consolidated net profit in Q3 FY 2017 on a year on year basis owing to muted revenue growth in the US and higher tax outgo. Net profit for the period was Rs 1,471 crore as against Rs 1,544 crore in same quarter last year. The fall in profit was largely due to tax expense which quadrupled to Rs 372 crore on a year on year basis. Total revenue rose 8 per cent to Rs 7,683 crore in the quarter under review but US business grew a modest 4 per cent largely due to weak performance by its US subsidiary Taro. Sun ...

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