Revenues for Q1FY19 rose 16.7 percent YoY to Rs 7,423.9 crore from Rs 6,360.8 crore in the year-ago period.
Shares of Sun Pharmaceutical Industries ended 7 percent higher on Tuesday as company beat analysts' estimates as it has reported net profit in the quarter ended June 2018.
The company has reported a consolidated net profit of Rs 982.8 crore in the first quarter ended June, on strong India and US sales.
In the same quarter last year, it had reported a net loss of Rs 423 crore. Profit in that quarter was adversely impacted by the settlement with certain plaintiffs related to the Modafinil antitrust litigation in the US, with the settlement amounting to Rs 951 crore.
Adjusted net profit excluding the impact of this settlement was around Rs 525 crore. Q1FY19 profit is 87 percent higher year-on-year (YoY) on this adjusted profit.
Revenues for Q1FY19 rose 16.7 percent YoY to Rs 7,423.9 crore from Rs 6,360.8 crore in the year-ago period.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) margin for the quarter was 21.3 percent.
A Reuters poll had forecast a rise in net profit to Rs 900 crore. It estimated a revenue gain of 12.8 percent YoY to Rs 6,957 crore.
At 15:05 hrs Sun Pharmaceutical Industries was quoting at Rs 600, up Rs 37.25, or 6.62 percent on the BSE.
Posted by Rakesh Patil