Sun Pharma third-quarter profit rises nearly four-fold, beats estimate
12 Feb 2019 11:46 AM GMT
Last year in the same quarter the company had a one-time tax expense of 5.13 billion rupees.
Sun Pharma had written to Sebi flagging concerns that certain entities were allegedly adopting unfair trade practices.
New Delhi: Sun Pharmaceutical Industries Ltd, India’s largest drugmaker by market value, posted a nearly four-fold jump in quarterly profit on Tuesday, beating estimates.
Net profit came in at 12.42 billion rupees (USD 175.45 million) versus 3.22 billion rupees profit last year, the company said here.
This 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.
Total revenue from operations grew 16.3 percent to 77.40 billion rupees.
( Source : reuters )
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