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Mumbai Jan 30 Sun Pharmaceuticals Industries Ltd has reported a 52.46 per cent rise in net profit at Rs 165.13 crore (Rs 108.31 crore) for the quarter ended December 31. Net sales fell 2.42 per cent to Rs 417.91 crore (Rs 428.27 crore).

EPS (earnings per share) stood at Rs 8.8.

"Our results are a strong endorsement of our strategy and operating philosophy. Despite challenging environment conditions, we've shown consistent performance in the domestic business, strong and profitable growth in the US and continued rapid increase in expansion of exports. We are working to build a competitive global generics business as we pursue expansion opportunities in existing and new geographies," said Mr Dilip Sanghvi, Chairman and Managing Director.

Between Sun Pharmaceuticals and its US subsidiary, Caraco Pharma, a total of eight ANDAs (Abbreviated New Drug Applications) have been filed during the quarter. With this, totally 61 ANDAs are currently awaiting USFDA approval.

The company had announced plans to demerge its R&D business, which will be completed by March 2007. Shares of the company fell 1.29 per cent to close at Rs 1,022.25 on BSE.

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