February 14, 2018 / 10:42 AM / 2 months ago

India's Sun Pharma Q3 profit slides 75 pct, misses estimates

Feb 14 (Reuters) - India’s largest drugmaker Sun Pharmaceutical Industries Ltd reported on Wednesday a 75 percent drop in net profit in the quarter ending Dec. 31, well below analysts’ estimates.

Net profit fell to 3.65 billion rupees ($57 million) in the firm's third quarter from 14.72 billion rupees a year earlier, the company said. bit.ly/2Cn6Ve0

That compared with the 9.12 billion rupees average profit estimate of 17 analysts, Thomson Reuters data showed.

Total revenue from operations fell 16 percent to 66.53 billion rupees. ($1 = 64.0800 Indian rupees) (Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Edmund Blair)

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