Sun Pharmaceutical Industries Limited reported an impressive 286.1 percent jump in net profit to Rs 1,241.1 crore for the third quarter of the financial year 2018-19 as its American generics business improves. In the same period last year, the company had posted a net profit of Rs 321.5 crore.
IT should also be noted that the number in December 2017 were impacted by Rs 513.02 crore incurred as exceptional taxes on account of re-measurement of the group’s deferred tax assets after the Tax Cut and Jobs Act enacted in the US on 22 October 2017.
The revenues from operations of India’s largest drugmaker rose 17 percent in the October-December 2018 quarter to Rs 7,933.25 crore in comparison with Rs 6,782.42 crore.
The EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter under review was at Rs 2,151 crore. The EBITDA margin was at 27.8 percent.
This story has not been edited by Topic Hunt (with the possible exception of the headline) and has been generated from a syndicated feed. (GoodReturns)