New Delhi : Sun Pharmaceutical Industries reported 56.89 % jump in consolidated net profit at Rs 1,587.12 crore for the fourth quarter ended March 31, 2013-14, on account of stronger sales. It had reported net profit of Rs 1,011.56 crore in the January-March quarter of the 2012-13 fiscal.
Sun Pharma said in a BSE filing that net sales in Q4, 2013-14 jumped 31.64 % to Rs 4,043.57 crore from Rs 3,071.49 crore in the year-ago period.
“FY14 was a good year for us. Our overall performance reflects the focus on execution of our strategy. We are developing a differentiated and speciality business and continue to evaluate opportunities to enhance our global presence,” Sun Pharma Managing Director Dilip Shanghvi said.
During the quarter, branded generic sales in India rose by 21 % to Rs 947 crore, while finished dosage sales in the US grew by 22 % to USD 403 million. International formulation sales outside the US during the quarter were at USD 72 million, flat over Q4 of 2012-13. On April 7, Sun Pharmaceutical announced it will fully acquire the troubled Ranbaxy Laboratories in an all-stock transaction with a total equity value of USD 3.2 billion. Under the agreement, Ranbaxy shareholders will receive 0.8 share of Sun Pharma for each share of Ranbaxy.
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