Sun Pharma posts Q2 net profit of Rs 1,064.09 cr

Sun Pharmaceutical Industries on Thursday reported a consolidated net profit at Rs 1,064.09 crore in the second quarter ended September 30. The company had posted a consolidated net loss of Rs 269.6 crore in the same period last fiscal, Sun Pharma said in a regulatory filing.

Total revenue from operations during the period under review stood at Rs 8,123.35 crore as against Rs 6,937.63 crore in the year-ago quarter, it added. During the quarter India sales were at Rs 2,515 crore, growth of 35 percent over the second quarter last year, while the US finished dosage sales were at USD 339 million flat over the same period last year, the company said.

The sales in emerging markets were at USD 201 million, up by 3 percent and that of the rest of the world was at USD 161 million, a growth of 49 percent. Commenting on the financial performance, Sun Pharma Managing Director Dilip Shanghvi said it demonstrates sustained growth momentum of the company.

"We continue to focus on cost savings and efficiency improvement to align our generic business with the changing industry dynamics. Simultaneously, we continue to progress on building our global specialty business," he added. Sun Pharma said its active pharmaceutical ingredients (API) clocked external sales of Rs 468 crore, up 10 percent over the same quarter last fiscal.

The company said its consolidated R&D investment for the second quarter was Rs 488 crore, which was 6.1 percent of sales as compared to Rs 452 crore (6.6 percent of sales in the year-ago quarter). Shares of Sun Pharmaceutical Industries were trading at ₹440.45 per scrip on the BSE, up 3.02 percent from the previous close.