Sun Pharma in pink on strong Q4 earnings

Reported a consolidated net profit of Rs 820 crore in Q4FY12 agianst Rs 443 crore in a year ago quarter

Sun Pharmaceutical Industries is trading higher by over 2% at Rs 578 in otherwise weak market on reporting a consolidated net profit of Rs 820 crore for the fourth quarter ended March 31, 2012.

The company had posted a net profit of Rs 443 crore for the same period of previous fiscal. Net sales of the company stood at Rs 2,330 crore in Q4FY12 as against Rs 1,463 crore during the corresponding period of previous fiscal.

"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.

Meanwhile, Taro has clarified that the increase in sales and profits this year may not be sustainable as these were largely a result of price increase on select products in the US market, it added.

The company's board has recommended a dividend of Rs 4.25 per equity share of Re 1 for the year ended March 31, 2012.

A combined 386,982 shares have changed hands on the counter so far in both the exchanges.