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May 25, 2012, 11.20 AM IST
Taro, a subsidiary of Sun Pharma, showed good growth in January-March quarter of 2012 on year-on-year basis, but there was dip in margins sequentially.
Net income of Taro jumped 84% over a year ago period to USD 47.3 million for the fourth quarter of FY12. It has changed financial year to March as against December. Sales increased 34.7% to USD 145 million during the same period. Operating income went up 98% year-on-year to USD 66.2 million in the quarter ended March 2012. Operating margins too improved quite nicely at 45.6% as against 31% year-on-year, but it declined as compared to 50.2% in previous quarter. Cash flow from operations during the quarter stood at USD 78 million as against USD 24,4 million YoY. Cash including marketable securities increased USD 75.5 million to USD 334.4 million sequentially. Taro also posted excellent results in December quarter; net sales grew by 44%YoY to USD 148.1 million in October-December quarter and EBITDA margin improved from 21.1% to 50.2%.
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