Sun Pharma Q3 net down 17% to Rs 339 cr

Sun Pharmaceutical Industries today reported a net profit of Rs 339 crore for the quarter ended on December 31, 2009, a decline of 17 per cent as compared to the same period previous year.

The company reported a net sales of Rs 1,020.8 crore in the third quarter of current fiscal, an increase of 11 per cent, against Rs 918.27 crore in the corresponding period last fiscal, Sun Pharama said in a statement.

During the quarter, branded generic sale of the company stood at Rs 533 crore, registering a growth of 24 per cent over the same quarter last year.

Sun Pharma holds 3.6 per cent market share in the highly competitive pharma market, as per IMS ORG report, it said.

Sun Pharma's US-based subsidiary Caraco has reported a sale of $52 million during the quarter, down by 6.7 per cent. During the quarter, Caraco had recorded a net loss of $3 million for the third quarter of the current fiscal.

"All segments of our business, except US generics, have shown a reasonable level of growth in this quarter," Sun Pharma Chairman and Managing Director Dilip Shanghvi said.

He said, on the US generic front, Caraco is taking important steps in its journey to regain manufacturing compliance.