Sun Pharma Q2 net profit rises 28% to Rs 3,040 cr

New Delhi: Sun Pharmaceutical Industries on Monday reported a 28 per cent increase in its consolidated net profit to Rs 3,040 crore in the September quarter.

The drug major had posted a net profit of Rs 2,375 crore in the July-September quarter of last fiscal.

Total income rose to Rs 13,645 crore in the second quarter compared to Rs 12,486 crore in the year-ago period, the Mumbai-based drug major said in a regulatory filing.

"Sun has recently strengthened its specialty pipeline through an agreement with Philogen for commercialising late stage candidate Fibromun, upon approval," Dilip Shanghvi, Chairman and Managing Director of the company, said.

With Fibromun, the company's product basket for dermatologists has expanded further, he added.

"We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market," Shanghvi said.

Shares of the company were trading 2.22 per cent higher at Rs 1,901.55 apiece on the BSE.