Sun Pharma Q2 Net Profit Up 70% At Rs 1,813 Cr

Drug major Sun Pharmaceutical Industries on Tuesday reported a 70.36 per cent jump in its consolidated net profit to Rs 1,812.79 crore for the quarter ended on September 30, 2020, mainly on account of robust sales and exceptional tax gains.

The company had posted a net profit of Rs 1,064.09 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing.

Consolidated revenue from operations stood at Rs 8,553.13 crore for the quarter under consideration against Rs 8,123.35 crore for the same period a year ago, it added.

'Tax gain (exceptional) for the quarter ended September 30, 2020, is on account of creation of deferred tax asset amounting to Rs 288.28 crore arising out of subsequent measurement attributable to restructuring of an acquired entity,' the filing said.

Shares of Sun Pharmaceutical Industries closed at Rs 482.10 on BSE, up 2.75 per cent from the previous close.

(PTI)