Sun Pharma Q3: Sun Pharma Q3 profit slides 75%, misses estimates

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NEW DELHI: The country’s largest drugmaker Sun Pharmaceutical Industries Ltd reported on Wednesday a 75 per cent drop in net profit in the quarter ending December 31, well below analysts’ estimates.

Net profit fell to Rs 365 crore ($57 million) in the firm’s third quarter from Rs 1472 crore a year earlier, the company said.

That compared with the Rs 912 crore average profit estimate of 17 analysts, Thomson Press24 News data showed.

Total revenue from operations fell 16 per cent to Rs 6,653 crore.

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