Sun Pharma third-quarter profit slides 75 percent, misses estimates
Wed Feb 14 2018
Rajesh Sharma (1997 articles)

Sun Pharma third-quarter profit slides 75 percent, misses estimates

India’s largest drugmaker Sun Pharmaceutical Industries Ltd reported on Wednesday a 75 percent drop in net profit in the quarter ending Dec. 31, well below analysts’ estimates.

Net profit fell to 3.65 billion rupees ($ 57 million) in the firm’s third quarter from 14.72 billion rupees a year earlier, the company said. bit.ly/2Cn6Ve0

That compared with the 9.12 billion rupees average profit estimate of 17 analysts, Thomson Reuters data showed.

Total revenue from operations fell 16 percent to 66.53 billion rupees.

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.