Sun Pharmaceutical, India’s fourth largest drug manufacturer, has reported substantial dip of 67.32% in its consolidated net profit in the first quarter ended June 30, 2009.

During the reporting period, the company has clocked consolidated net profit of Rs 164 crore.

In the similar period of previous fiscal, company’s net profit figure stood at Rs 501crore.

The company has attributed the fall in net profit to drop in domestic sales as well as its US subsidiary - Caraco Pharma.

In a filing to Bombay Stock Exchange (BSE), the company said that its total income during the review quarter decreased to Rs 814 crore from Rs 1,066 crore in the same quarter last year.

On a standalone basis, Sun Pharma has clocked a net profit of Rs 121 crore in the June quarter this year as compared to Rs 280 crore in the same quarter of the last fiscal.