Sun Pharmaceutical Q1 Results: Profit Jumps 40%, Beats Estimates

Sun Pharmaceutical Industries Ltd.'s first quarter profit rose, topping analysts' estimates.

The company's consolidated net profit increased 40% year-on-year to Rs 2,835.62 crore in the quarter-ended June 2024, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had estimated a profit of Rs 2,628.43 crore.

Sun Pharmaceutical Q1 FY25 Highlights (Consolidated, YoY)

• Revenue up 6% to Rs 12,652.75 crore (Bloomberg estimate: Rs 12,903.57 crore).

• Ebitda up 10% to Rs 3,658.07 crore (Bloomberg estimate: Rs 3,406.78 crore).

• Margin at 28.9% versus 28.9% (Bloomberg estimate: 26.40%).

• Net profit up 40% to Rs 2,835.62 crore (Bloomberg estimate: Rs 2,628.43 crore).

Key Highlights

• India formulation sales grew 16.4% to Rs 41,445 million.

• US formulation sales were lower by 1% at $466 million.

• Global specialty sales were up 14.7% to $266 million.

• Global specialty sales accounted for 17.7% of Q1 FY25 sales.

• Emerging markets formulation sales were up 8.8% to $284 million.

• Rest of world formulation sales were down 2.9% to $190 million.

• R&D investments were at Rs 7,940 million, as compared to Rs 6,796 million over the same period last year.

“Sun has recently attained several milestones with the approval of Leqselvi in the US, the filing of Nidlegy in Europe and the completion of acquisition of Taro minority shares. These steps advance our innovative as well as generic business offerings, and will help us serve patients better,” said Dilip Shanghvi, chairman and managing director at Sun Pharmaceutical.

Shares of Sun Pharmaceutical Industries were trading 0.4% higher at Rs 1,725 apiece on the BSE, as compared with a 0.04% gain in the benchmark Sensex.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.