Sun Pharma logs 92% profit growth

A man carrying a gas cylinder walks out of the research and development centre of Sun Pharmaceutical Industries Ltd in Mumbai
Sun Pharmaceutical Industries, India's largest drug maker, posted 92 per cent growth in net profit in Q4 2016 on a year-on-year basis on the basis of strong revenue growth.

Net profit for the quarter was Rs 1,713 crore as against Rs 889 crore in same period last year while revenue grew nearly 25 per cent to Rs 7634 crore. The company gained from sale of anti leukemia drug Gleevic for which it has 180 days exclusivity in the US market.  Also its US  subsidiary Taro posted  8.6 per cent sales growth in the March end quarter.

Sun Pharma's result however came below Bloomberg estimates on both revenue and profit.

Sun Pharma's earnings in Q4 FY 15 were impacted due to one time charges related to Ranbaxy merger and price erosion in certain products.

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