Sun Pharma Q3 net up 32%

Sun Pharmaceutical Inds today announced a 32% year-on-year growth in consolidated net profit to Rs 881.30 crore for the quarter ended December from Rs 668.30 crore in the same period a year ago, driven by strong sales in the US market.

Sun Pharmaceutical Inds on Friday announced a 32% year-on-year growth in consolidated net profit to Rs 881.30 crore for the quarter ended December from Rs 668.30 crore in the same period a year ago, driven by strong sales in the United States market.

Sales of branded prescription formulations in US rose 44% to Rs 1,495 crore from Rs 1,040 crore in the same quarter previous year. The US sales accounted for 52% of total sales during the quarter.

"All our businesses continue to perform in-line with our expectations. The acquisition of DUSA and URL's generic business will further strengthen our presence in the US," said Dilip Shanghvi, MD, Sun Pharmaceutical.

US-based Dusa, a dermatology company, was acquired by Sun pharma for around R1,250 crore last year. Caraco Pharma, Sun Pharma's wholly-owned subsidiary, also announced the acquisition of URL Pharma Inc's generic business in US, during the quarter.