Sun Pharma Q3 profit dips 75%, misses estimates

BENGALURU:

India’s largest drugmaker Sun Pharmaceutical Industries Ltd reported on Wednesday a 75% drop in net profit in the quarter ending December 31, well below analysts’ estimates. Net profit fell to ₹3.65 billion ($57 million) in the firm’s third quarter from ₹14.72 billion a year earlier, the company said. Total revenue from operations fell 16% to ₹66.53 billion.

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