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Sun Pharma fiscal Q1 profit up 31.2% YOY

Sun Pharmaceutical Industries Ltd. said its profit for the fiscal first quarter ended June 30 climbed 31.2% year over year.

The Mumbai-based maker of generic drugs said net profit for the quarter totaled 13.87 billion Indian rupees, or 5.78 rupees per share, up from 10.57 billion rupees, or 4.41 rupees per share, in the year-earlier period.

Total revenue grew 15.9% on an annual basis to 83.74 billion rupees from 72.24 billion rupees.

Research and development expenses decreased 16.1% year over year to 4.07 billion rupees from 4.85 billion rupees.

As of Aug. 12, US$1 was equivalent to 71.28 Indian rupees.