Forex gain declined sharply by 64 percent to Rs 81.8 crore in Q3 YoY and other income was also down 37.9 percent to Rs 119.88 crore compared to the year-ago period.
Drugmaker Sun Pharmaceutical Industries on February 6 registered a 26.44 percent year-on-year drop in consolidated profit, impacted by higher other expenses and lower forex gain with slow revenue growth.
The bottom line for the quarter stood at Rs 913.52, a decline from Rs 1,241.85 crore in the same period last year. It was lower than Rs 1,058 crore estimated by a CNBC-TV18 poll of analysts.
Revenue from operations grew by 5.36 percent year-on-year to Rs 8,154.85 crore the December quarter, meeting street estimates.
Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) also fell 14.5 percent YoY to Rs 1,841.4 crore and margin contracted 520bps to 22.6 percent in Q3FY20, but were above estimates of Rs 1,725.1 crore and 21.1 percent.
Forex gain declined sharply by 64 percent to Rs 81.8 crore in Q3 YoY and other income was also down 37.9 percent to Rs 119.88 crore compared to year-ago.
However, other expenses for the quarter were higher at Rs 2,646.14 crore, up 22.86 percent from the same period last fiscal.
Further, the company said board members declared an interim dividend of Rs 3 per share of Re 1 each for the financial year 2019-20.The stock was quoting at Rs 428.75, up Rs 2.60, or 0.61 percent, on the BSE at 1516 hours.