Sun Pharma third-quarter profit rises nearly four-fold, beats estimate
Last year in the same quarter the company had a one-time tax expense of 5.13 billion rupees.
By : DC Correspondent
Update: 2019-02-12 11:46 GMT
New Delhi: Sun Pharmaceutical Industries Ltd, India’s largest drugmaker by market value, posted a nearly four-fold jump in quarterly profit on Tuesday, beating estimates.
Net profit came in at 12.42 billion rupees (USD 175.45 million) versus 3.22 billion rupees profit last year, the company said here.
This was above an average estimate for a profit of 9.86 billion rupees from 16 analysts, Refinitiv Eikon data shows.
Last year in the same quarter the company had a one-time tax expense of 5.13 billion rupees.
Total revenue from operations grew 16.3 percent to 77.40 billion rupees.