Sun Pharma Profit Rises 13% In September Quarter; Shares Gain Over 2.5%

Sun Pharma's India sales jumped 26 per cent to Rs 3,187 crore while its sales in the US came in at $361 million, up 8 per cent annually.

Sun Pharma Profit Rises 13% In September Quarter; Shares Gain Over 2.5%

Shares of the country's leading drug maker - Sun Pharma - rose as much as 6.75 per cent from the day's lowest level to hit an intraday high of Rs 835.90 after it reported September quarter earnings. Sun Pharma reported net profit of Rs 2,047 crore in second quarter of the current financial year, marking an increase of 13 per cent from Rs 1,812.79 crore during the same period last year. Its revenue from operations advanced 12.76 per cent to Rs 9,556.74 crore as against Rs 8,474 crore in the year ago period.

Sun Pharma's India sales jumped 26 per cent to Rs 3,187 crore while its sales in the US came in at $361 million, up 8 per cent annually.

Sun Pharma's EBITDA also known as operating profit came in at Rs 2,560.8 crore, up 21 per cent over Q2 last year, with resulting EBITDA margin of 26.8 per cent.

"Following our good Q1 performance, we have sustained the positive momentum in Q2 with a top line growth of 13 per cent YoY, driven by a broad-based growth across multiple geographies. Our global specialty business has grown by 43 per cetnt over Q2 last year. Ilumya has grown both YoY and sequentially. Our India business continues to do well with a growth of 26 per cent YoY. We remain steadfast in our focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent launch of Winlevi in US and Ilumya in Canada is a step forward in this direction," Dilip Shanghvi, Managing Director, Sun Pharma said in a statement.

A of 3:05 pm Sun Pharma shares traded 0.83 per cent higher at Rs 818.50, outperforming the Sensex which was down 0.23 per cent.

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