Sun Pharma Q2 profit dives 59%, but beats estimates

Analysts on average had expected a profit of Rs827 crore according to Thomson Reuters data

Sun Pharmaceutical Industries, India's biggest drug maker, reported a 59% slump in second-quarter net income as intense competition in the US continued to crimp sales in its largest market.

Profit came in at Rs 912 crore ($139.48 million) in the quarter ended September 30, compared with Rs 2,235 crore a year ago, the company said.

However, that was better than the INR8.27 billion estimated by analysts polled by Thomson Reuters. The company's India sales accounted for Rs 2,221 crore, a growth of 11 per cent over Q2 last year, while U.S. finished dosage sales were recorded at $309 million down by 44 per cent over Q2 last year.

The company expects the performance to gradually improve in the second half of this year, he added. The company said its research and development expenses in the last quarter accounted for 7.7% of sales, compared with 7.4% a year earlier.

Women, revamp your diet today. You're more prone to diabetes
It is a small, white, circular patch which monitors blood sugar levels and will warn her when she has to inject insulin. Why does blood sugar matter? Below is a list of five such foods that can help you bring down your blood glucose levels.

Rest of World (ROW) markets excluding U.S. and Emerging Markets were United States dollars 111 million in Q2FY18 registering a growth of 40 percent - led by consolidation of revenues from the acquisition of 14 brands from Novartis in Japan.

Active Pharmaceutical Ingredients (API) business largely meant for captive consumption rose 6 percent to Rs 388 crores. The shares of Sun Pharmaceutical Industries closed today at Rs 526.15 on BSE, down 1.19 per cent from previous close.

Consolidated R&D expense for Q2FY18 was Rs. 511 crores, or 7.7% of sales compared to Rs. 570 crores or 7.4%. According to media reports, starting Tuesday, the USA drug regulator is conducting a surprise inspection at another plant in Baska, near Halol, that manufactures several injectable drugs the company filed for approval in the U.S.

Related:

  • Saif Ali Khan's Special Gift For Taimur Ali Khan On Children's Day

    Saif Ali Khan's Special Gift For Taimur Ali Khan On Children's Day

    Well, daddy cool Saif Ali Khan surely knows how to impress and bring a cute giggling smile on the little nawab's face. So it is in fact quite a sensible purchase considering it clearly meets nearly all of Saif's automotive requirements.
    Thanks To A Backdoor, Hackers May Get Root Access To OnePlus Phones

    Thanks To A Backdoor, Hackers May Get Root Access To OnePlus Phones

    But the team proved it can be done without a whole lot effort, which in turn leaves a lot of OnePlus devices vulnerable. It looks like the Chinese smartphone company has accidentally left behind the app on some of its smartphone units.
    Oscar De La Hoya Calls Out Conor McGregor

    Oscar De La Hoya Calls Out Conor McGregor

    However, he seems to have changed his tune and is keen to face McGregor himself in a fantasy fight that could generate millions. You heard it on Golden Boy Radio.
  • Drinking coffee may decrease risk of heart failure, stroke

    Drinking coffee may decrease risk of heart failure, stroke

    In this case, red meat consumption was identified as a potential risk factor, although here, the correlation was less striking. Foods to avoid include refined carbohydrates, foods high in added sugars, trans fats, saturated fats and processed meats.
    Trump asked for Xi's help in UCLA players' shoplifting case

    Trump asked for Xi's help in UCLA players' shoplifting case

    Trump's pronouncements on North Korea during the trip swung from embracing diplomacy to warnings of military intervention. An anonymous USA official told The Washington Post that charges against the three players have been reduced.
    Senior cop caught getting massage from lady home guard

    Senior cop caught getting massage from lady home guard

    Rachakonda Police Commissioner Mahesh Bhagwat transferred him to the commissionerate headquarters as departmental punishment. The incident reportedly took place about four-five months ago at the armed reserve headquarters in Jogulamba Gadwal district.
  • ATC acquiring Indian tower units from Vodafone and Idea for $1.2 billion

    Furthermore, it said the data usage is exploding and usage per subscriber ( 1MB for Q2FY18) is 2.7GB per month. Growth was driven by higher smartphone penetration, now at over 38 percent of the total customer base.
    Gal Gadot & Connie Nielsen Bring 'Wonder Woman' to the 'Justice League' Premiere

    Gal Gadot & Connie Nielsen Bring 'Wonder Woman' to the 'Justice League' Premiere

    Justice League is receiving mostly positive praise on social media ahead of its theatrical release this Friday. A number of people took to Twitter to slam the decision, labelling it "a step backwards".
    'I'm a Filipino' says white transracial man (who also wants gender change)

    'I'm a Filipino' says white transracial man (who also wants gender change)

    An American man has been living his life as a Filipino , despite having been born white. He was born a white male named Adam , but he now identifies as a Filipino named Ja Du .
  • US FDA approves first drug with digital ingestion tracking system

    Abilify is a drug developed by Otsuka Pharmaceuticals whereas the sensor was created by a company called Proteus Digital Health . Food and Drug Administration ( FDA ) made the first approval of a drug imbued with a digital ingestion tracking system.

    EgyptAir's Bombardier CSeries outline deal valued at $1.1 billion

    To date, Bombardier is thought to have won orders for more than 400 of the C Series aircraft. The previous sale covered 31 aircraft for an unidentified European client.

    Android distribution numbers for November show nearly no change for Oreo

    Further, KitKat is now running on 13.8 percent Android smartphones and Jelly Bean in 6.2 percent devices. Two-year-old Android Lollipop and below now account for about half of all Android devices.

Comments

Latest news

Chelsea legend Didier Drogba confirms retirement plans
Drogba joined second-tier Phoenix in 2017, after leaving Montreal Impact following the conclusion of the 2016 MLS season. Chelsea legend Didier Drogba has announced that he will retire from professional football at the end of next season.

Connected toys can be hacked by 'almost anyone'
The Bluetooth connections on the toys are unsecured so external devices could be used to manipulate the toys. Spiral Toys, which makes the Toy-Fi Teddy and CloudPets devices, has not yet commented on the report.

Earliest wine in world found in 8000-year-old jars in Georgia
Telltale chemical signs of wine were discovered in eight jars, the oldest one dating from about 5,980 BC. The latest finds were published in the journal Proceedings of the National Academy of Sciences (PNAS ).

More than 15000 scientists issue 'warning to humanity'
The message updates an original warning sent from the Union of Concerned Scientists 25 years ago and backed by 1700 signatures. During their presentation, the team representing the administration was heckled and interrupted by a protest song .

Thousands of dollars raised for woman who flipped off Trump's motorcade
The GoFundMe is meant to support the cyclist , Juli Briskman , who lost her job because of the photo. She added: "Basically, you can not have "lewd" or "obscene" things on your social media".

Ronaldo informs Perez about his decision to leave Real Madrid
When asked earlier this month he was expecting to sign a new deal with Madrid, Ronaldo told beIN Sports: 'I don't want to renew. The Real Madrid forward has had a hard start to the season, managing just one La Liga goal all season.

Flying vehicle company Terrafugia bought by China's Geely
In recent months the company has been aggressively scaling up its engineering force in preparation of the acquisition from Geely. However, the company did not disclose any financial details concerning the deal, The China Daily newspaper reported today.

Duke vs. Michigan State live stream
Despite almost putting up triple digits on the scoreboard Friday, the Spartans finished only 3-of-12 from beyond the arc. Michigan State opened the season with a 98-66 win over North Florida behind Bridges' 20 points and 10 rebounds.

Vodafone shares soar on outlook boost
Shares in Vodafone were trading up 5 percent at 1005 GMT, having earlier hit a three month high of 227.50 pence. Vodafone had taken an impairment of 5.0 billion euros on its Indian activities in the first half of 2016.

Prisoner alleges Ram Rahim being given extra time to meet family
Ram Rahim has been handed two sentences of ten years each for the two counts of rape, and is locked up in Haryana's Sunaria Jail. Gurmeet Ram Rahim was sentenced to 20 years in prison on August 28 this year.

Body found near sites of 3 unsolved Tampa slayings
The area where Felton's body was found is close to where three other murders occurred in Seminole Heights last month. On Oct. 9, victim Benjamin Mitchell, 22, was waiting for a bus on North 15th Street and Frierson Avenue in Tampa.

Euro Zone Economy Continues to Expand
At 4.30 am ET, the Office for National Statistics is slated to issue United Kingdom consumer and producer prices for October. The euro zone economy grew as expected in the last quarter, according to official data released on Wednesday.

Yemen blockade: aid supplies stuck in Djibouti
The coalition argues that the closure was needed to stop arms reaching to the Houthi rebels. Links to related companies and recent articles. .

Jimmy Fallon pays tearful tribute to his mother
Taylor sat down at the piano to sing the heartfelt song and was accompanied by just an acoustic guitar and some backup singers. It's pretty raw stuff, especially from a host who's often accused of being somewhat one-note and superficial.

This is how long you have to spend your old £10 note
The new version is two and a half times stronger than its paper counterpart (and is better at surviving the washing machine). Its days have been numbered since the new polymer tenner, depicting author Jane Austen, entered circulation in September.

Other news