New Delhi, Oct 30 (PTI) Pharma major Sun Pharmaceutical Industries on Friday reported a 36.36 per cent decline in consolidated net profit at Rs 1,988.53 crore for the September quarter, dragged down by a one-time expenditure related to the proposed acquisition of Organon and litigation expenses in the US.
The company had posted a consolidated net profit of Rs 3,124.95 crore in the corresponding quarter last fiscal, Sun Pharmaceutical Industries said in a regulatory filing.
Consolidated total revenue from operations in the second quarter of the current fiscal stood at Rs 16,198.71 crore as compared to Rs 14,478.31 crore in the year-ago period, it added.
The rise in revenues was driven by an increase in formulation sales in India -- up 17.3 per cent to Rs 5,552.3 crore -- accounting for 34.5 per cent of the total consolidated sales for the quarter.
Total expenses during the quarter under review were higher at Rs 12,287.83 crore as compared to Rs 10,780.62 crore a year ago, the company said.
"Our performance during the quarter was driven by strong momentum in India, emerging markets and rest of World. Among key developments, Ilumya is now approved in the US for the treatment of adults with active psoriatic arthritis. ...Beyond dermatology, we strengthened our cardiovascular portfolio through the licensing of lerodalcibep, a PCSK9 inhibitor, for markets outside the US and China," Kirti Ganorkar, Managing Director of the company, said.
