Sun Pharma gains traction, Q1 net at Rs 501 crore

New Delhi: Sun Pharmaceutical Industries on Thursday reported a consolidated net profit of Rs 501 crore for the first quarter ended June 30, 2011. [caption id=“attachment_49981” align=“alignleft” width=“380” caption=“The results are not comparable due to the acquisition of Israel’s Taro Pharmaceutical Industries, which became its subsidiary in September last year. Ali Jarekji/Reuters”]  [/caption] The firm had posted net profit of Rs 564.32 crore for the same quarter last fiscal, but said the figures were not comparable due to the acquisition of Israel’s Taro Pharmaceutical Industries, which became its subsidiary in September last year. For the first quarter this fiscal, total income stood at Rs 1,635.72 crore, compared to Rs 1,365.06 crore in the corresponding year-ago period, the company said. During the period under review, expenditure on consumption of materials amounted to Rs 451.06 crore, up from Rs 369.19 crore in the same quarter last fiscal. Sun Pharmaceutical Industries scrips were being quoted at Rs 515.70 apiece during afternoon trade on the BSE, down 0.34 per cent from their previous close. PTI