Sun Pharmaceutical Industries, country’s third largest drug maker by sales aims revenue growth of 18-20% for the current fiscal year ending March 2014. It is planning to invest Rs 800 crore on capital expenditure and file about 25 generic drug applications for approval in the United States.
The entity’s sales rose by 31.8% in the March quarter over the year-ago period to Rs 3,071.5 crore, and its gross margin rose as material costs increased by only 7.9%. While, the profit was boosted by higher other income and lower tax rate at 13.8%.
