Sun Pharma has reported 75.2% decline in the profit for the quarter ended December 31,2017, at Rs.365.4 crore.

Profit for the corresponding quarter in the last year, was at Rs.1,471.82 crore. In a filing the company stated, “Tax expenses (exceptional) for the quarter represented estimated impact of Rs 513.02 crore on account of re-measurement of the group’s deferred tax assets as a result of the Tax Cut and Jobs Act enacted in the US on December 2017.”

Further, revenue from operations was 16% lower YoY in the December quarter. Tax expenses for the quarter under review was at Rs.235.7 crore, showing a decrease of 36.8% from Rs.372.92 crore in the same quarter, last year.

Read EquityPandit’s Technical Analysis on Sun Pharma Outlook for the Week