Sun Pharma Q2 profit up 15 pct, but lags estimates

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Published: November 13, 2014 9:22:37 PM

Sun Pharmaceutical Industries Ltd , India's largest drugmaker by revenue...

Sun Pharmaceutical Industries Ltd , India’s largest drugmaker by revenue, reported a 15 percent jump in second-quarter net profit on Thursday, but slightly lagged estimates.

Net income for the quarter ended September was 15.72 billion rupees ($255.4 million), up from 13.62 billion rupees a year earlier. Analysts on average expected net income of 15.88 billion rupees, according to Thomson Reuters I/B/E/S.

Sun Pharma, which is in the process of acquiring rival drugmaker Ranbaxy Laboratories Ltd, is awaiting approval from India’s antitrust regulator for the deal.

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