Sun Pharma Q2 net profit down 46% at Rs 1,107 crore

Drug major Sun Pharmaceutical Industries today reported 46.02 per cent dip in its consolidated net profit at Rs 1,106.66 crore for the second quarter ended September 30, 2015 on account of lower sales, volatile currency movements and supply constraints.
The company had posted a net profit of Rs 2,050.22 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries said in a statement.
Consolidated net sales of the company declined to Rs 6,803.31 crore for the quarter under consideration as against Rs 7,979.31 crore for the same period year ago.
Commenting on the results, Sun Pharma Managing Director Dilip Shanghvi said: "Our performance for the quarter and first half FY16 has been impacted by lower sales growth, volatile currency movements and supply constraints."

Nonetheless, "we continue to invest significantly in enhancing our specialty and complex generics pipeline. Integration of Ranbaxy is progressing well and while some of the costs have been incurred, the benefits will be visible going forward. We also continue to evaluate opportunities to expand our global footprint," he added.
Earlier this month, addressing the company's shareholders during the annual general meeting (AGM), Shanghvi had said that in the near term and especially for 2015-16 fiscal, the company's overall growth in revenues and net profit will be adversely impacted due to temporary supply constraints at Halol plant.