Sun Pharmaceuticals Industries Ltd has posted a 45.01 per cent rise in its consolidated net profit at Rs 358.9 crore (Rs 3.59 billion) for the financial year 2003-04 as against Rs 247.5 crore (Rs 2.47 billion) in 2002-03.

The board has recommended a dividend of 130 per cent for each equity share for FY04, the company informed the Bombay Stock Exchange on Thursday.

It also recommended issuance of bonus shares in the ratio of 1:1, subject to the shareholders' approval.

The total sales for the reporting year stood at Rs 1,133.07 crore (Rs 11.33 billion) as against Rs 988.1 crore (Rs 9.88 billion) in the same period last year, it said.

The net profit and total income for the quarter ended March 31, 2004 stood at Rs 89.22 crore (Rs 892.2 million) [Rs 74.17 crore (Rs 741.7 million) in January-March 2003] and Rs 276.36 crore (Rs 2.76 billion) [Rs 241.12 crore (Rs 2.41 billion) in January-March 2003], respectively.