Pharma major Sun Pharmaceuticals Industries on Monday reported a marginal decline in net profit for the quarter ended March 31 at Rs 394 crore. The company had a net profit of Rs 395 crore in the same period last fiscal.
During the quarter, net sales declined 2.2 per cent to Rs 1,109 crore, as against Rs 1,134 crore in the year-ago period.
Sun has recommended a dividend of Rs 14 per equity share of Rs 5 each for the quarter.
“The margin in the current year has been considerably affected by loss of revenue on Caraco (Sun’s US subsidiary)-manufactured products, compounded by additional costs related to inventory reserve,” the company said.