Sun Pharma reports Q4 net profit at Rs 888 cr, Ranbaxy deal shrinks earnings

New Delhi: Sun Pharma today reported a consolidated net profit of Rs 888.05 crore for the fourth quarter ended 31 March 2015. The company had posted a net profit of Rs 1,587.12 crore for the same period of the previous fiscal.[caption id=“attachment_921285” align=“alignleft” width=“380”]  Shrinking profit. AP[/caption] Net sales of the company stood at Rs 6,144.90 crore for the fourth quarter, while the same stood at Rs 4,043.57 crore in the year-ago period, Sun Pharmaceutical Industries said in a filing to the BSE. For the year ended March 2015, the company posted a net profit of Rs 4,540.60 crore, while the same stood at Rs 3,141.47 crore in the last year. Net sales of the company stood at Rs 27,286.50 crore for the year ended March 31. The same stood at Rs 16,004.39 crore in the last year. The company said results of the quarter and year ended 31 March are not comparable to the same period of previous fiscal due to the amalgamation of Ranbaxy Laboratories with the company with effect from 24 March 2015. Almost a year after announcing a $4 billion deal, Sun Pharma in March this year completed the merger of Ranbaxy with itself. In April 2014, Sun Pharma had announced it would acquire troubled rival Ranbaxy in an all-stock transaction worth $4 billion that includes $800 million debt. Sun Pharma shares today ended 1.05 percent up at Rs 965.75 apiece on the BSE. The Mumbai-based firm said sales of branded prescription formulations in India for the fourth quarter stood at Rs 1,569 crore and for the full year stood at Rs 6,717 crore. Sales in the US market stood at $488 million for the quarter, accounting for 49 percent of total sales while the sales for the full year stood at $2,244 million accounting for 50 percent of total sales. The company said its consolidated R&D expense for the fourth quarter stood at Rs 579 crore, or 9.4 percent of sales. For full year, R&D spend stood at Rs 1,955 crore, constituting 7.2 percent of sales. The company said its sales in emerging markets stood at $123 million for fourth quarter, accounting for 12 percent of total sales. Sales from emerging market for the full year 2014-15 stood at $611 million, and accounted for 14 percent of total sales, it said. PTI