Sun Pharma Q2 net falls 46.5% on Protonix provision

Sun Pharmaceutical Industries reported a 46.5 percent drop in quarterly net profit after it

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set aside Rs 5.84 billion towards a possible compensation in a patent dispute case related to drug Protonix.

The Mumbai-based drugmaker said consolidated net profit fell to Rs 3.2 billion during fiscal second quarter ended September from Rs 5.98 billion a year earlier. Net sales rose 40.2 percent to Rs 26.57 billion.

Analysts had estimated the net profit at Rs 7.68 billion, according to Thomson Reuters I/B/E/S.

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