Oct 30 (Reuters) – India’s Sun Pharmaceutical Industries reported a drop in second-quarter profit on Friday, dragged by a one-time charge related to its acquisition of Organon. Consolidated net profit fell to 19.89 billion rupees ($209.31 million) in the quarter ended September 30 from 31.18 billion rupees a year earlier. The drugmaker booked a one-time […]
Health
India’s Sun Pharma posts lower quarterly profit on one-time acquisition-related charge
Audio By Carbonatix
Oct 30 (Reuters) – India’s Sun Pharmaceutical Industries reported a drop in second-quarter profit on Friday, dragged by a one-time charge related to its acquisition of Organon.
Consolidated net profit fell to 19.89 billion rupees ($209.31 million) in the quarter ended September 30 from 31.18 billion rupees a year earlier.
The drugmaker booked a one-time charge of 12.69 billion rupees, largely comprising acquisition-related costs for its planned purchase of Organon, along with provisions linked to India’s new labour code framework.
($1 = 95.0250 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Jochelle Mendonca)