Sun Pharmaceutical Industries Ltd. reported a net profit of ₹1,064 crore for the second quarter ended September 30, 2019, compared with a net loss of ₹269 crore in the same period last year.
Sales income from operations saw a growth of 16% to ₹7,949 crore over ₹6,846 crore.
India sales stood at ₹2,515 crore, up 35%. The finished dosage sales in the U.S. market at $339 million remained flat over Q2 last year.
‘Emerging markets’ sales, at $201 million, were up by 3% while ‘rest of world’ sales at $161 million grew 49% over Q2 last year.
The company’s R&D investments grew to ₹488 crore from ₹452 crore in the same quarter last year.
Dilip Shanghvi, MD, Sun Pharma said, “Our Q2 and H1 performance demonstrates sustained growth momentum and is in-line with our full-year guidance. 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. In the U.S., we recently launched Cequa while Ilumya continues to gain traction. The recently released long-term follow-up clinical data for Ilumya demonstrates sustained response for patients over four-year period with very good safety profile. We are excited about the long term prospects of Ilumya,” he said.
