Sun Pharma net profit up four-fold to Rs 1,242 crore in Dec quarter

Sun Pharmaceutical Ind­us­tries, which is grappl­ing with corporate governance issues, cleared the air on investor concerns on Tuesday as it beat Street estimates, posting a fourfold rise in net profit in the December quarter to Rs 1,241.85 crore from Rs 321.57 crore in the corresponding quarter last fiscal year. This came on the back of 16 per cent growth in revenue. 

The company may also spend more on research and development (R&D) next year owing to clinical trials for new indications of its rece­ntly launched product Ilumya and others. 

Sun Pharma’s managing director (MD) Di­lip Shanghvi confirmed that the firm recei­ved two