Sun Pharma net up 23%

The company had posted net profit of Rs 820.21 crore in the same period previous fiscal

Sun Pharmaceutical on Tuesday reported 23 per cent increase in consolidated net profit to Rs  1,011.6 crore for the quarter ended March. Net profit in the year-ago period had stood at Rs 820 crore.

Total income from operations stood at Rs 3,087 crore, against Rs 2,336 crore in the year-ago period.

F9or 2012-13, consolidated net profit stood at Rs 3,008 crore, against Rs 2,657 crore in 2011-12.

Total income from operations was at Rs 11,300 crore,  against Rs 8,020 crore in FY12.

Commenting on the performance, Managing Director Dilip Shanghvi said: "Our sales for FY13 have crossed the $2 billion mark. While it took us almost 27 years to record $1 billion in revenue, the next billion was added in just three years."

The board of directors at a  have recommended issue of bonus shares to existing shareholders in the ratio of 1:1 subject to the receipt of approval of the equity shareholders, it said.

The board has also recommended payment of a dividend of Rs 5 per equity share of face value Rs 1 each, it added.