Sun Pharma Q4 profit dips

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.

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.

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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.