Sun Pharma Last Quarter Net Profit Plunges 59%

By Debiprasad Nayak Features Dow Jones Newswires

India's largest drug firm, Sun Pharmaceutical Industries Ltd., reported a 59% drop in net profit, in its last quarter, on declining revenue.

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The generic drug maker reported a net profit of 9.12 billion Indian rupees ($139 million) in the July-September period, compared with INR22.35 billion a year earlier. However, that was better than the INR8.27 billion estimated by analysts polled by Thomson Reuters.

Its revenue was INR65.90 billion, a drop of 15% compared with a year earlier.

The company has been facing a slowdown in its biggest market, the U.S., due to regulatory issues and pricing pressure.

Write to Debiprasad Nayak at debiprasad.nayak@wsj.com

(END) Dow Jones Newswires

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November 14, 2017 06:35 ET (11:35 GMT)