NEW DELHI: Pharma major Sun Pharmaceuticals on Thursday reported a 26.43 per cent drop in year-on-year (YoY) net profit at Rs 913.52 crore compared with Rs 1,241.85 crore in the same quarter last year.
Revenue for the quarter rose 4.98 per cent to Rs 8,038.65 crore from Rs 7,656.71 crore in the same quarter last year.
The company's board announced a dividend of Rs 3 per share and fixed the record date as Tuesday, February 18.
Ebitda margin came in at 21.5 per cent while net profit margin at 11.4 per cent.
The company invested Rs 527 crore in R&D for the quarter compared with Rs 465 crore in the year-ago quarter.
India sales for the quarter stood at Rs 2,517 crore, up 13 per cent. US finished dosage sales stood at $350 million, down 3 per cent. Emerging markets sales stood at $195 million, down by 4 per cent. Rest of world sales at $155 million were up 24 per cent YoY.
Taro posted sales of $148 million, drops 16 per cent Yoy. Taro’s net profit for Q3 was $68 million.
Managing Director Dilip Shanghvi, “Our branded business in India is doing well and has recorded double-digit growth, for Q3 as well as for the nine month period. For the international business, we continued our efforts to enhance our portfolio in new markets by entering into a licensing agreement with AstraZeneca in China for some of our novel oncology products. Simultaneously, we continue to enhance our global specialty business which is gradually becoming a meaningful growth engine."