Mumbai, May 28 (IANS) Sun Pharmaceutical Industries on Tuesday reported a consolidated net profit of Rs 635.88 crore for the fourth quarter of FY19.
The company had posted a consolidated net profit of Rs 1,342.50 crore during the corresponding period of the previous fiscal.
“This is not comparable with Q4 of last year due to the one-time impact of distribution change for India business in Q4FY19 as well as the one-time tax benefit of Rs 259 crore for the same quarter during the last year,” the company said in a statement.
The company’s consolidated sales rose 5 per cent to Rs 7,044 crore over the same quarter last year.
“Sales for the quarter include a one-time impact of approximately Rs 1,085 crore related to the change in distribution for India business,” the statement said.
“Consolidated sales, adjusted for this one-time impact, were at Rs 8,129 crores, a growth of 21 per cent over Q4 last year.”
For the entire fiscal, the pharmaceutical major’s consolidated net profit stood at Rs 2,665 crore.
“Sales from operations at Rs 28,686 crores, growth of 10 per cent over same period last year. Adjusted for the one-time impact of distribution change for India business, consolidated sales have grown by 14 per cent over the previous year,” the statement added.