Sun Pharmaceutical Industries Ltd. reported audited consolidated and standalone earnings results for the fourth quarter and year ended March 31, 2017. For the quarter, on consolidated basis, the company reported sales of INR 68,251.6 million against INR 74,159.8 million a year ago. Total revenue from operations was INR 71,369.6 million against INR 76,542.6 million a year ago. Profit before exceptional items and tax was INR 13,888.2 million against INR 20,869.0 million a year ago. Profit before tax was INR 13,888.2 million against INR 20,869.0 million a year ago. Net profit after taxes, non-controlling interests and share of profit of associates and joint venture was INR 12,237.1 million or INR 5.2 per basic and diluted share against INR 14,161.3 million or INR 5.9 per basic and diluted share a year ago. EBITDA was INR 12,360 million. Sales decline in the quarter is a reflection of the pricing pressure that the generic industry is facing in the U.S. Also, revenues in the previous comparable quarter were boosted due to the Imatinib exclusivity in the U.S., which has ended in July 16.

For the year, on consolidated basis, the company reported sales of INR 302,642.3 million against INR 278,880.7 million a year ago, a growth of 9% over the same period last year. Total revenue from operations was INR 315,784.4 million against INR 284,870.3 million a year ago. Profit before exceptional items and tax was INR 90,478.7 million against INR 72,558.0 million a year ago. Profit before tax was INR 90,478.7 million against INR 65,706.3 million a year ago. Net profit after taxes, non-controlling interests and share of profit of associates and joint venture was INR 69,643.7 million or INR 29.0 per basic and diluted share against INR 45,457.1 million or INR 18.9 per basic and diluted share a year ago. EBITDA was INR 12,360 million. EBITDA was INR 87,750 million. Net profit grew by 53% over the last year. Net profit for the year was adversely impacted by one-time items as well as exceptional charges of INR 6,850 million.

For the quarter, on standalone basis, the company reported sales of INR 19,469.8 million against INR 16,763.1 million a year ago. Total revenue from operations was INR 20,171.7 million against INR 19,252.8 million a year ago. Profit before exceptional items and tax was INR 881.6 million against INR 469.8 million a year ago. Profit before tax was INR 881.6 million against INR 469.8 million a year ago. Profit for the period was INR 946.3 million or INR 0.4 per basic and diluted share against INR 513.4 million or INR 0.2 per basic and diluted share a year ago.

For the year, on standalone basis, the company reported sales of INR 75,237.9 million against INR 72,540.9 million a year ago. Total revenue from operations was INR 78,067.0 million against INR 78,636.9 million a year ago. Loss before exceptional items and tax was INR 324.4 million against INR 10,119.3 million a year ago. Loss before tax was INR 324.4 million against INR 10,820.6 million a year ago. Loss for the period was INR 349.5 million or INR 0.1 per basic and diluted share against INR 10,875.1 million or INR 4.5 per basic and diluted share a year ago.

Consolidated R&D investments for fiscal year 2018 will be around 9% to 10% of revenues. The company expects a gradual increasing tax rate over the next few years, and CapEx for 2018 is estimated at USD 350 million.

The board of directors of the company at their meeting held on May 26, 2017 have accepted the resignation of Uday Baldota as the CFO of the company, effective from June 19, 2017 and appointed C.S. Muralidharan as the CFO of the company, effective from June 19, 2017. Muralidharan joins company from Teva India where he was the regional controller APAC region & country CFO, India.