Drug major Sun Pharmaceutical Industries on Tuesday reported 60.23 per cent decline in consolidated net profit at Rs. 478.96 crore for the April—June quarter due to one—time exceptional charges of Rs. 685.17 crore related to write-downs and integration of Ranbaxy.
The company had posted a net profit of Rs. 1,204.59 crore for the corresponding period of the previous fiscal.
Consolidated total income of the company rose to Rs. 6,767.58 crore for the first quarter of 2015—16 as against Rs. 6,341.21 crore in April—June 2014—15, the company said in a filing to the BSE.
The financials for the first quarter of this fiscal include several one—time and exceptional charges related to integration of Sun and Ranbaxy businesses, it said.
“Exceptional item for the quarter ended June 30, 2015 represents charge on account of impairment of fixed assets and other related costs and write down of the carrying value of goodwill on consolidation. This charge has arisen on account of the integration and optimization exercises being carried out in certain manufacturing facilities,” Sun Pharma said.
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