Sun Pharma’s Third-quarter Net Profit rises 5% to Rs 2,166 Crore

Sun Pharmas
Sun Pharmas reported a 5 percent YoY increase in consolidated profit of Rs 2,166 crore for the quarter that ended in December.

Sun Pharmaceutical Industries reported a 5 per cent YoY increase in consolidated profit of Rs 2,166 crore for the quarter that ended December 31, 2022, compared to Rs 2,059 crore the previous year on January 31.

The Indian pharma major’s consolidated revenue from operations increased 14 per cent to Rs 11,241 crore, up from Rs 9,863 crore in the December 2021 quarter. In Q2FY23, revenue was Rs 10,952 crore.

Earnings before interest, depreciation, taxation and amortisation were Rs 3,004 crore, up 15 per cent from Rs 2,606 crore reported the previous year. EBITDA margin increased by 30 basis points year on year to 26.7 per cent, up from 26.4 per cent the previous year.

“Specialty is expected to continue as a key growth driver for Sun. We are investing to scale up this business, especially in our core therapy areas. Proposed Concert acquisition is a step forward in this direction. Concert’s lead asset, deuroxolitinib has a potential best-in-class profile in Alopecia Areata, an area of dermatology with high unmet need. We are excited to offer this new treatment option to dematologists worldwide. Given our commercial strength, we would be well-positioned to bring this product to market,” said Dilip Shanghvi, MD, Sun Pharmaceutical.

The company’s India formulations sales were Rs 3,392 crore, up 7per cent year on year, and accounted for 31per cent of total consolidated sales, while US formulations sales were Rs 3,466 crore, up 6per cent year on year. Emerging markets and the rest of the globe increased by 8per cent and 5per cent, respectively, to Rs 2,116 crore and Rs 1,556 crore.

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