)
Sun Pharmaceutical Industries, India’s largest in the segment by market value, has reported a 44 per cent drop in its final quarter net profit, on the back of the Ranbaxy acquisition. Net profit for the quarter was Rs 888 crore, compared with Rs 1,587 crore in the year-ago period. Total income for the quarter stood at Rs 6,157 crore, up 52 per cent compared with Rs 4,058 crore in the year-ago period.
Managing director Dilip Shanghvi said, “Our performance has been impacted due to various one-time charges, mainly on account of the Ranbaxy merger, as well as due to price erosion for some of our products in the US. It also reflects the impact of supply constraints related to the on-going remediation efforts at some of our facilities.”
ALSO READ: Ranbaxy: A new challenge for Sun Pharma
Net profit for the full financial year stood at Rs 4,540 crore, against Rs 3,141 crore for the year ended March 2014, up by 44 per cent. Total income increased to Rs 27,433 crore, compared with Rs 16,080 crore during the year-ago period.
Sun Pharma closed the $4-billion Ranbaxy merger, which includes a $800 million debt, in March.
Sale of branded prescription formulations in India for the fourth quarter was at Rs 1,569 crore. Sales in the US were at $488 million for the quarter, accounting for 49 per cent of the total sales. Sales in the emerging markets were at $123 million for the fourth quarter, accounting for 12 per cent of the total sales.
