Sun Pharma Q1 net profit rises 42.7% to ₹2,061 crore

Sun Pharmaceutical Industries Ltd. reported first quarter consolidated net profit grew 42.7% to ₹2,061 crore from the year earlier period.

“Excluding the exceptional items of Q1 last year, adjusted net profit was up by 4.1%,” the company said in a filing.

Gross sales at ₹10,644 crore grew 10.1% year-on-year. India formulation sales at ₹3,387.1 crore reported a growth of 2.4% over Q1 last year. U.S. formulation sales grew 10.7% to $420 million and Emerging Markets formulation sales at $245 million was an increase of 12.6%. Rest of World formulation sales grew 2.6% to $190 million over the same period last year.

Dilip Shanghvi, MD, Sun Pharma said, “For Q1, all our businesses recorded good growth, driven by a combination of sustained scale-up for our specialty business and all-round growth across markets.”

“Specialty business has grown by 29% driven by Ilumya, Cequa, Odomzo and Winlevi. Our India business continues to grow faster than market, leading to increase in market share. We have been able to report healthy margins despite rising costs,” he said.

“We continue to focus on expanding our global specialty business, growing all our businesses and improving our market share,” he added.