Sun Pharma outperformed market expectations by reporting a robust 16.5 percent increase in consolidated net profit, reaching Rs 2,524 crore for the December quarter of the fiscal year, compared to Rs 2,166 crore recorded a year ago.
The pharmaceutical giant also revealed a 10.1 percent growth in revenue, totaling Rs 12,381 crore, as opposed to Rs 11,241 crore in the corresponding period last year. Analysts, as per a Moneycontrol poll of eight brokerages, had estimated net profit at Rs 2,373 crore and revenue at Rs 12,277.8 crore.
Dilip Shanghvi, Managing Director of Sun Pharma, expressed satisfaction with the company’s broad-based growth, particularly in Global Specialty. Shanghvi highlighted the anticipation of the European Medicines Agency (EMA) filing for Nidlegy in the coming months, emphasizing its potential to significantly expand the onco-derm franchise in Europe.
Sun Pharma’s earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a notable increase, reaching Rs 3,477 crore, marking a 15.8 percent rise from Rs 3,003.7 crore in the year-ago period. The EBITDA margin stood at 28.8 percent, up from 26.7 percent in the corresponding period last year.