Sun Pharmaceutical Industries Ltd has reported a net profit of Rs 533.10 million for the quarter ended September 30, 2002 as compared to Rs 481.90 million for the quarter ended September 30, 2001. Total sales has increased from Rs 1961.50 million in SQ-2001 to Rs 2166.40 million in SQ-2002. Other income has decreased from Rs 22.60 million in SQ-2001 to Rs 11.80 million in SQ-2002.

The Board has approved the split of the company's equity shares of Rs 10 each into two equity shares of Rs five each subject to the approval of the Equity shareholders at the ensuing extra general meeting of the company.

The Board has decided to buyback, subject to the approval of the equity shareholders by way of postal ballot and other such approvals if any required, maximum of two million equity shares of Rs 10 each or maximum of four million equity shares of Rs five each under the open market route for the maximum outlay of Rs 1200 million for a maximum price of Rs 750 per equity share of Rs 10 each or for a maximum price of Rs 375 per equity share of Rs five each.

The extra ordinary general meeting of the company will be held on December 20, 2002 interalia for approval of split of company's equity shares and declaration of postal results for buyback.