Sun Pharmaceutical on Tuesday reported 52.63 per cent drop in consolidated profit at Rs 635.88 crore for the quarter ended March 31. The drug major had posted a net of Rs 1,342.50 crore in the corresponding quarter last year.

Analysts in an ET NOW poll had projected a profit of Rs 976 crore.

Total expenditure jumped 14.35 per cent to Rs 6,751.21 crore from Rs 5,904.23 crore in the year-ago period.

Revenue came in at Rs 7,163.92 crore against Rs 6,977.10 crore on a yearly basis.

The board of the drug firm has recommended a dividend payout of Rs 2.75 per equity share.

Consolidated Ebitda slipped 39.57 per cent to Rs 1,017 crore during the quarter under review. The figure stood at Rs 1,683 crore in the same period last year.

The company in a regulatory filing said that Sudhir Valia, whole-time director, has resigned to become non-executive director and non-independent director with effect from May 29.

The company announced its results post market hours. Earlier during the day, the scrip settled 0.43 per cent down at Rs 412.90, while the BSE Sensex closed 66.44 points lower at 39,749.43.