Sun Pharma Q4 net profit up 7% at ₹1,309 crore

Sun Pharma’s total revenue from operations rose to ₹6,977.10 crore for the fourth quarter. It stood at ₹7,136.96 crore during the same period of 2016-17.

Drug major Sun Pharma on Friday posted 6.96% increase in its consolidated net profit at ₹1,308.96 crore for the fourth quarter ended March 2018.

Shares of Sun Pharma ended 0.97% up at ₹466.55 apiece on the BSE on Friday. (REUTERS File Photo)

The company had reported a net profit of ₹1,223.71 crore in the same period of the previous fiscal.

Total revenue from operations rose to ₹6,977.10 crore for the fourth quarter. It stood at ₹7,136.96 crore during the same period of 2016-17.

For the year ended March 31, the drug major posted a net profit of ₹2,161.55 crore, down 68.96per cent from ₹6,964.37 crore in 2016-17, Sun Pharma said in a regulatory filing.

Total revenue from operations for 2017-18 stood at ₹26,489.46 crore. It stood at ₹31,578.44 crore in 2016-17.

During the year, the company and one of its wholly-owned subsidiaries entered into a settlement regarding a product with certain plaintiffs -- Apotex Corporation and Retailer Purchasers and agreed to pay $147 million (around ₹950 crore), Sun Pharma said.

The company’s board approved a dividend of ₹2 each per share of Re 1 each for the year ended March 31, 2018. The dividend is expected to be paid on or about last week of September, 2018, it added.

The board also approved the composite scheme of arrangement among Sun Pharma and Sun Pharma (Netherlands) BV and Sun Pharmaceutical Holdings USA Inc and their respective members.

Shares of Sun Pharma ended 0.97% up at ₹466.55 apiece on the BSE on Friday.