Business

Sun Pharma posts Q1 profit of ₹1,444.17 cr.

Sun Pharmaceutical Industries Ltd. reported a consolidated net profit of ₹1,444.17 crore for the first quarter ended June 30.

The company had reported a net loss of ₹1,655.60 crore in the year-earlier period.

Consolidated sales from operations at ₹9,669.4 crore grew 29% over Q1 last year. India sales at ₹3,308.4 crore grew 39% compared with Q1 last year, while U.S. finished dosage sales grew 35% to $380 million. Emerging markets sales grew 25% to $218 million, while rest of the world sales grew 35% to $ 185 million.

“We witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of COVID-19 products,” managing director Dilip Shanghvi said.

“Our India business continues to do well while our global specialty revenues have grown over Q4. We are happy with Ilumya’s performance which has grown both y-o-y and sequentially,” he added.

“We continue to focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent in-licensing of Winlevi for U.S. and Canada is a step forward in this direction,” he said.

The company said it has repaid debt of about $185 million in Q1FY22 compared with the debt as of March 31, 2021. Over the last five quarters, the company has repaid debt of about $765 million.

Taro posted Q1FY22 sales of $147 million, up by 25% and reported a net loss of $18.8 million for Q1FY22. It has provided $60 million, which reflects an additional legal contingency provision related to ongoing multi-jurisdiction civil antitrust matters, the company said.


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Printable version | Sep 26, 2021 11:04:49 AM | https://www.thehindu.com/business/sun-pharma-posts-q1-profit-of-144417-cr/article35640653.ece

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