Mumbai, Oct 23 : Sun Pharmaceuticals Industries has reported a 41 per cent increase in net profit to Rs 32.20 crore for the quarter ended September 2000, as against Rs 22.79 crore in the corresponding quarter last year. The company recorded a turnover of Rs 151.86 crore, which was 35 per cent higher compared with Rs 112.88 crore recorded in the same quarter last year.For the first half, profit after tax (PAT) increased 48 per cent to Rs 63.26 crore, as against Rs 42.82 crore in the same half last year. Turnover increased 32 per cent to Rs 284.52 crore as compared to Rs 215.81 crore for the half year ended September 1999-00. Domestic formulation sales, backed by internal growth and increasing acceptance of new specialty brands was up 20 per cent to Rs 190.49 crore as against Rs 158.25 crore last year.
Sun Pharmaceutical Exports, a 99.28 per cent subsidiary, posted a profit of Rs 3.49 crore for the quarter ended September-2000 as against Rs 2.38 crore in the same quarter the last fiscal.The export arm posted a profit of Rs 6.26 crore for the half year ended September-2000, as against Rs 4.48 crore in the same half last year.
Total exports (including those through Sun Pharma Exports) crossed Rs.54.69 crore - up by 18 per cent as against Rs 46.45 crore in the first half in 1999-00. The proposed merger of Sun Pharmaceutical Exports Ltd with Sun Pharma is awaiting approval of the Gujarat High Court, and is expected to be completed by the third quarter, an official press release said.
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