Sun TV Network posts Q4 net profit at Rs 235.91 cr
A part of that hit in the US was because Sun benefited in last year’s fourth quarter from its 180-day exclusive of its generic of Novartis’ cancer fighter Gleevec, and part of it was the pressure on prices that all generics makers have felt.
Drug major Sun Pharma reported a 14% decline in consolidated net profit at Rs 1,223 crore for the fourth quarter ended March 31 on Friday, on account of pricing pressure in the USA market.
Income from operations during the period also declined to Rs 6,825 crore from Rs 7,415 crore in the same period of the previous fiscal. For the fourth quarter, Taro’s net profit for was $83 million, a decline of 28 per cent over the same period past year.
Total income during the fiscal stood at Rs 594.12 crore as against Rs 583.05 crore in the previous fiscal. Despite this, we continue to invest our strong cash flows in enhancing our specialty pipeline.
For the entire year, sales from India were at Rs 7,749 crore, higher by 8 per cent over last year. “We recently had a pre-NDA meeting with the US FDA for Seciera and we are on track to file this NDA by third quarter of FY18″.
The company has recommended a final dividend of Rs 2 per equity share having face value of Rs 5 each for the financial year 2016-17. Its current CFO Uday Baldota will move to the U.S.to join its unit Taro Pharmaceutical Industries Ltd.