Sun Pharma net rises 26%

Sun Pharmaceutical Industries has reported a 26.1 per cent increase in net profit at Rs 70.46 crore for the third quarter ended December 31, 2003 against Rs 55.83 crore in the corresponding quarter of the previous year.

Turnover increased 13.5 per cent to Rs 247.34 crore (Rs 217.9 crore). Total income increased to Rs 281.74 crore (Rs 221.1 crore). While domestic sales was Rs 184.96 crore, proceeds from exports stood at Rs 62.38 crore.

Total expenditure grew to Rs 200.86 crore (Rs 154.43 crore). Research and development expenditure increased to Rs 9.8 crore (Rs 6.8 crore). Earnings per share was up by 26.7 per cent to Rs 7.6.

Dilip Shanghvi, chairman and managing director, said in a release: "We are optimistic about the continuing growth in our international dosage form business and the filings for bulk actives in the regulated market. With the long term plans firming up, and the domestic formulations business continuing to show growth, we remain confident of meeting our top line projections for the year. The highest priority remains research and delivering on the goal we have set for ourselves for 2005."