Sun Pharma's Profits Soar with Strategic Expansion

Sun Pharmaceutical Industries reported a 28% rise in net profit, reaching Rs 3,040 crore for the September quarter, driven by strong sales in India and the US. Notably, the company expanded its specialty pipeline and is leveraging its cash position to enhance its product lineup.

Sun Pharmaceutical Industries announced a significant 28% year-on-year increase in consolidated net profit, totaling Rs 3,040 crore for the September quarter. This impressive growth was largely fueled by robust sales performances in key markets, including India and the United States. The drug major had previously recorded a net profit of Rs 2,375 crore in the same quarter of the last fiscal year.

The company's total income surged to Rs 13,645 crore compared to Rs 12,486 crore in the year-ago period, according to Sun Pharma's regulatory filing. Chairman and Managing Director Dilip Shanghvi highlighted the company's strategic agreement with Philogen, aiming to commercialize the late-stage candidate Fibromun, upon approval, thereby enhancing their product portfolio for dermatologists.

Sun Pharma's domestic formulation sales reached Rs 4,265 crore, marking an 11% increase from the previous fiscal year. In the US, formulation sales saw a significant 20% rise, amounting to USD 517 million. However, formulation sales in the Rest of World markets experienced a slight decline. The company invested Rs 793 crore in R&D during the quarter, up from Rs 773 crore in the same period last year, with shares finishing up 2.28% on the BSE.

(With inputs from agencies.)