Sun Pharmaceutical Industries Q1 net at Rs 501 crore

NEW DELHI: Sun Pharmaceutical Industries on Thursday reported a consolidated net profit of 501 crore for the first quarter ended June 30, 2011.

The firm had posted net profit of 564.32 crore for the same quarter last fiscal, but said the figures were not comparable due to the acquisition of Israel's Taro Pharmaceutical Industries, which became its subsidiary in September last year.

For the first quarter this fiscal, total income stood at 1,635.72 crore, compared to 1,365.06 crore in the corresponding year-ago period, the company said. During the period under review, expenditure on consumption of materials amounted to 451.06 crore, up from 369.19 crore in the same quarter last fiscal.