SUN PHARMA Q2 PROFIT FALLS 59.7% ON WEAK US BUSINESS

MUMBAI: India’s largest drug maker Sun Pharmaceutical Industries Ltd reported a 59.7% year-on-year fall in its consolidated net profit in the quarter ended September because of weak US sales. Consolidated net profit, which came in at ₹1,001.79 crore against ₹2,487.89 crore a year ago, was still higher than market expectations. Sales were down 15% to ₹6,590.06 crore. A Bloomberg poll of 22 analysts had estimated Sun Pharma’s consolidated net profit at ₹800.40 crore and sales at ₹6,803.90 crore.