Mumbai, Aug. 1 -- Sun Pharmaceutical Industries, India's biggest drugmaker by market capitalization, missed Street expectations in the June quarter as weakness in its US generics business weighed on profitability, despite double-digit revenue growth and continued strength in its India and innovative medicines businesses.
The company reported consolidated revenue of Rs.15,299 crore for Q1, up 10.5% year-on-year, while net profit rose 27% to Rs.2,895 crore. Strong growth in the domestic business and innovative medicines offset a decline in US generics sales, but was not enough to meet estimates.
Published by HT Digital Content Services with permission from Hindustan Times....