A bird flies past the logo of Sun Pharma installed on the facade of its corporate office in Mumbai, November 14, 2017. REUTERS/Shailesh Andrade/Files

(Reuters) – Sun Pharmaceutical Industries Ltd, India’s largest drugmaker by market value, posted a nearly four-fold jump in quarterly profit on Tuesday, beating estimates.

Net profit came in at 12.42 billion rupees ($175.45 million) versus 3.22 billion rupees profit last year, the company said here.

This was above an average estimate for a profit of 9.86 billion rupees from 16 analysts, Refinitiv Eikon data shows.

Last year in the same quarter the company had a one-time tax expense of 5.13 billion rupees.

Total revenue from operations grew 16.3 percent to 77.40 billion rupees.

Reporting by Krishna V Kurup in Bengaluru; Editing by David Evans


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