Appoints Israel Makov as the chairman in place of Dilip Shanghvi
Sun Pharmaceutical Industries Ltd today reported a consolidated net profit of Rs 820.21 crore for the fourth quarter ended March 31, 2012.
The company had posted a net profit of Rs 442.75 crore for the same period of previous fiscal, Sun Pharma said in a filing to the BSE.
Net sales of the company stood at Rs 2,329.93 for the fourth quarter ended March 31, 2012 as against Rs 1,463.28 crore during the corresponding period of previous fiscal.
For the year ended March 31, 2012, the company posted a net profit of Rs 2,587.25 crore compared to Rs 1,816.06 crore in 2010-11.
"Taro Pharmaceutical Industries became a subsidiary of the company on September 20, 2010 therefore the figures for the current fiscal are not comparable with the corresponding figures for the previous financial year," the company said.
The company's board, which met today, recommended a dividend of Rs 4.25 per equity share of Re 1 each for the financial year ended March 31, 2012.
In a separate filing the company said it has appointed Israel Makov as the Chairman of the company in place of Dilip Shanghvi, who has has stepped down from the position while continuing to remain as the company's Managing Director.
The company's board has also appointed Makov, a resident of Israel, as an additional director on the company's board, it said.
Shares of Sun Pharma today closed at Rs 565.65 on the BSE, down 0.68% from its previous close.
Consolidated net sales of the company rose by 38% to Rs 2,465.9 cr