Mumbai, May 25 : Pharma major Sun Pharmaceutical Industries on Friday reported a rise of 6.96 per cent in its consolidated net profit for the quarter ended March 31, 2018.
According to the company, its profit after tax for the quarter under review increased to Rs 1,308.96 crore from Rs 1,223.71 crore reported for the corresponding quarter of previous fiscal.
However, in terms of financial year, the pharma major's consolidated net profit declined by 68.96 per cent to Rs 2,161.55 crore from Rs 6,964.37 crore reported for 2016-17.
Commenting on the financial performance, Dilip Shanghvi, Managing Director of the Company said: "Our Q4 performance is in-line with our guidance.
Over the last four quarters, we have been able to record a gradual improvement in performance despite a challenging US generic pricing environment."
"FY19 will mark the crossing of some important milestones in our specialty journey with the likely launch of 3 specialty products in the US - Ilumya, OTX-101 and Yonsa - which will entail upfront investments.
We are also planning to conduct additional clinical trials for a new indication of Ilumya. We will continue to evaluate opportunities in the specialty segment to further enhance this business."