Drug major Sun Pharmaceutical Industries on Tuesday recorded a 53% decline in consolidated net profit at ₹636 crore for the fourth quarter ended on March 31, 2019.
The company had posted a net profit of ₹1,343 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries said in a filing to BSE.
However, the consolidated total revenue from operations rose 3% to ₹7,164 crore as opposed to ₹6,977 crore in Q418.
For the fiscal year ended March this year, the net profit of the company was at ₹2,665.42 crore. It was ₹2,095.70 crore for the previous fiscal year.
Consolidated revenue from operations of the company was at₹28,686.28 crore for the fiscal year ended March 2019. It was₹26,065.94 crore in the previous fiscal.
The company’s board recommended dividend of ₹2.75 per share.
As reported by Business Today, Dilip Shanghvi, Managing Director of the Company said that despite one-time impact for India business, the full year sales have grown by double digits. They continue to focus on executing our global specialty strategy. Ilumya is hoped to gain traction in US in FY20 while Cequa launch is expected in the coming months. At the same time, Sun Pharma is strengthening its core operations, optimizing the cost structure and enhancing its overall efficiencies.
Shares of Sun Pharmaceutical Industries closed at ₹412.90 on BSE, down 0.43 per cent from the previous close.
