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Sun Pharma posts Rs 9.8 bn Q1 profit, beats estimates as US sales climb

Sales from its US formulations business, which constitutes over a third of total sales, grew 8 per cent from the previous corresponding quarter

Sun Pharma


India's largest drugmaker Sun Pharmaceutical Industries Ltd posted a first-quarter profit on Tuesday, beating street estimates, helped by stronger sales in the United States. Net profit came in at Rs 9.83 billion for the three months ended June 30, compared with a loss of 4.25 billion rupees a year earlier, the company said. In the year-ago quarter, Sun Pharma incurred costs of Rs 9.51 billion related to settlements in a US antitrust case over sleep-disorder drug Modafinil. Analysts on average expected a net profit of Rs 8.97 billion. Sales from its US formulations ...

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First Published: Tue, August 14 2018. 16:03 IST