Sun Pharma Q2 net drops 47% due to compensation in patent dispute

Sun Pharmaceutical Industries reported a 46.5 percent drop in quarterly net profit after it set aside Rs 584 crore towards a possible compensation in a patent dispute case related to drug Protonix.

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The Mumbai-based drugmaker said consolidated net profit fell to Rs 320 crore during fiscal second quarter ended September from Rs 598 crore a year earlier. Net sales rose 40.2 percent to Rs 2657 crore.

Analysts had estimated the net profit at Rs 768 crore, according to Thomson Reuters data.

Reuters