Sun Pharma's Q2 net profit rises 70% on one-time tax credit

Revenues remain flat, sequential improvement in India and US revenues

India's largest pharma company Mumbai-headquartered Sun Pharmaceutical Industries posted a massive 70 per cent year-on-year rise in consolidated net profit thanks to an exceptional tax credit of Rs 288 crore. On a standalone basis too the net profit grew by 36 per cent even as the revenue growth remained muted. 

Sun Pharma stock ended the day's trade at Rs 485 apiece on the BSE, up 3.4 percent as the results came in ahead of analyst expectations.  

The revenues grew by 6.4 percent on a consolidated basis as the rest of the world (RoW) and emerging market sales were up. Sun