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Sun Pharma third-quarter profit jumps four-fold on strong U.S. show


(Reuters) - India's largest drugmaker by market value Sun Pharmaceutical Industries Ltd posted a nearly four-fold jump in quarterly profit on Tuesday, breezing past estimates on strong sales in the U.S. market. Net profit came in at 12.42 billion rupees ($175.45 million) versus 3.22 billion rupees profit last year, the company said, which was above an average estimate for a profit of 9.86 billion rupees from 16 analysts, Refinitiv Eikon data shows.Last year in the same quarter the company had a one-time tax expense of 5.13 billion rupees, related to changes to tax rates in the United ...

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First Published: Tue, February 12 2019. 17:36 IST