Sun Pharmaceuticals today reported a 244.4 per cent jump in net profit at Rs 564.3 crore for the quarter ended June 30, compared to Rs 163.8 crore in the year-ago period.
The spurt in profit was due to a one-time sale of generic cancer drug oxaliplatin in the US, according to industry analysts. Total income rose 77.1 per cent to Rs 1,399.7 crore, compared to Rs 787.6 crore in the comparable period a year ago.
Sun Pharma Chairman and Managing Director Dilip Shanghvi said the business had been positive, with growth coming from all business segments in line with expectations and guidance.
During the quarter, the company’s US subsidiary, Caraco, recorded sales of $130 million (about Rs 605 crore), up by 171 per cent over the year-ago period, aided by one-time sale of generic oxaliplatin (Eloxatin).
