Drug major Sun Pharmaceutical Industries Tuesday reported nearly four-fold jump in its consolidated net profit at Rs 1,241.85 crore for the quarter ended on December 31, 2018.
The company had posted a net profit of Rs 321.57 crore for the corresponding period of the previous fiscal hit by one-time deferred tax adjustment.
"Net profit for Q3 FY19 was at Rs 1,242 crore with resulting net profit margin at 16.2 per cent. Net profit for third quarter last year was adversely impacted by one-time deferred tax adjustment of Rs 513 crore related to changes in US tax rates. Adjusted for this, net profit growth for Q3 FY19 was 49 per cent year-on-year," Sun Pharmaceutical Industries said in a filing to BSE.
Consolidated revenue from operations of the company stood at Rs 7,740.19 crore for the quarter under consideration as against Rs 6,653.23 crore for the same period a year ago.
Commenting on the results, Sun Pharma MD Dilip Shanghvi said: "Our focus on execution is reflected in the Q3 performance."
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