Sun Pharma in red, net profit dips by over 67% in Q1

Sun Pharmaceutical and Industries, the fourth largest pharma company, has suffered heavy setback during the first quarter ended June 2009 mainly due to drop in domestic sales as well as its US subsidiary - Caraco Pharma. It's consolidated net profit declined by 67.3 per cent to Rs 163.84 crore from Rs 501.45 crore in the corresponding period of last year. The consolidated net sales declined by 24.4 per cent to Rs 787.59 crore from Rs 1041.77 crore. Its earning per share nosedived to Rs 7.9 from Rs 24.2 in the last period.

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