The country’s largest pharma player, Sun Pharmaceutical Industries, which has an 8.2 per cent share of the Rs 1.67 trillion Indian market, posted an 11 per cent year-on-year (YoY) rise in consolidated revenues to Rs 9,814.2 crore in Q3FY22, riding on strong growth in its key markets – India and the US.
The net profit for the quarter was Rs 2,058.8 crore. The Ebitda came in at Rs 2,557.4 crore, with a resulting Ebitda margin of 26.1 per cent. The board also declared an interim dividend of Rs 7 per share. The stock ended 0.8 per cent up in day’s trade on the BSE at Rs 834.15 apiece.
The India formulation (drug) sales were Rs 3,167 crore, up 15 per cent over the same quarter last year, while the US formulation sales grew by 6 per cent to $397 million. For Q3FY22, the company launched 25 new products in the Indian market. The US market contributed 30 per cent to Sun Pharma’s overall turnover.
“For Q3, the branded formulations business in India and the emerging markets together account for about 50 per cent of the global consolidated revenues. Our global specialty revenue for the first nine months has already crossed the previous full year revenues,” said Dilip Shanghvi, MD, Sun Pharma.
In Q3, the revenue from specialty products came in at $183 million, up 21 per cent YoY.
Shanghvi added that despite rising costs, the company has achieved higher profitability. He also said the India business continues to grow faster than the market.
Research and development (R&D) investments were Rs 547 crore, up from Rs 559 crore in the same quarter previous year. Specialty R&D was around 22 per cent of the total R&D expenditure of the company.
Taro posted Q3FY22 sales of $139 million, nearly flat YoY and net profit of about $26.3 million, lower by 20 per cent over Q3 last year.
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