India's largest drugmaker Sun Pharmaceutical Industries on Tuesday reported a 53 percent year-on-year (YoY) drop in consolidated net profit at Rs 635.9 crore for the fourth quarter ended March 2019.

In the corresponding quarter last year, the company posted a net profit of Rs 1,309 crore. CNBC-TV18 Polls had predicted a profit of Rs 861.6 crore for the quarter under review.

The company's revenue rose by 3 percent to Rs 7,163.9 crore in Q4, compared to Rs 6,977 crore in the year-ago period.

The board of Sun Pharma has recommended payment of a dividend of Rs 2.75 per equity share of Rs 1 each for the year ended March 31, 2019, subject to approval.

Shares of Sun Pharmaceutical Industries ended at Rs 412.90, down Rs 1.80, or 0.43 percent on the BSE.

First Published:May 28, 2019 5:30 PM IST