Sun Pharma posts profit of Rs 1,390 crore in Q1

Sun Pharmaceutical Industries Ltd on Tuesday posted a consolidated net profit of Rs 1,390.51 crore for the first quarter ended June 30.

The company had posted a net loss of Rs 1,276.10 crore for the same period of previous fiscal.

Net sales of the company rose to Rs 3,926.85 crore for the first quarter, as compared to Rs 3,482.18 crore in the same period of previous fiscal, Sun Pharma said in a statement.

"Our Q1 performance was in-line with our expectations. While we are intensively planning for the integration with Ranbaxy, we remain focused on strengthening our existing businesses and developing a differentiated and speciality driven product basket," Sun Pharma Managing Director Dilip Shanghvi said.

The company will also continue to review opportunities to expand and strengthen its global footprint, he added.

In April, the company had proposed to acquire Ranbaxy Laboratories in an all-stock deal valued of about US $ 4 billion.

Sun Pharma shares on Wednesday opened at Rs 776 a piece on the Bombay Stock Exchange (BSE), and was trading up 1.33 per cent from its previous close at 10:10 am.