Sun Pharma profit more than doubles

CORPORATE SCORECARD

Sun Pharmaceutical Industries has reported a better-than-expected 121 per cent increase in net profit for the quarter ended June 30, 2008, riding on over 200 per cent increase in its US business and a 66 per cent increase in net sales.

Net profit of the company stood at Rs 501.5 crore, 121 per cent higher as compared with Rs 227.2 crore posted in the first quarter of last year. Net sales for the quarter increased by 66 per cent to Rs 1,047.2 crore, from Rs 6,27.5 crore in the first quarter of last year.

“Our generic business in the US and the branded generic businesses in India and rest-of-the-world continue to post steady numbers justifying the investments we have made towards products, brands, customers and facilities. In all, we are in for a year of strong numbers across all our business segments,” said Dilip Shanghvi, chairman and managing director, Sun Pharma.