Sun Pharma eclipsed by 75% fall in Q3 net profit on weak US business

The results were below Bloomberg's revenue and profit estimate by over 5 per cent and 61 per cent, respectively

A sixteen per cent decline in revenue and a one-off tax expense of Rs 5.13 billion resulted in a 75 per cent fall in Sun Pharmaceutical Industries’ consolidated net profit in the third quarter of 2017-18.

India's largest drug maker by revenue reported a net profit of Rs 3.65 billion in the quarter, against Rs 14.71 billion in the year-ago period.

Revenue from operations declined about 16 per cent year-on-year to Rs 66.53 billion due to weakness in the US business, which continued to see pricing pressure and the impact of delayed product approvals. The company is in the process