Sun Pharma Q1 Results: Net profit jumps 40% to ₹2,836 crore, revenue up 6% YoY

Sun Pharma Q1 Results: Sun Pharmaceutical Industries on Thursday reported a consolidated net profit growth of 40.2% year-on-year (YoY) at ₹2,835.62 crore for the first quarter of FY25. The company’s net profit in the year-ago quarter was ₹2,022.54 crore.

Drug major Sun Pharma’s revenue from operations in Q1FY25 increased 6% to ₹12,652.7 crore from ₹11,940.84 crore, YoY.

US Formulation sales fell 1% to $466 million and accounted for over 31.1% of total consolidated sales. India Formulation sales were up 16.4% to ₹4,144.5 crore and accounted for about 33.1% of total consolidated sales.

Formulation sales of the pharma company in Emerging Markets sales were $284 million for Q1FY25, a growth of 8.8% and accounted for 18.9% of total consolidated sales, Sun Pharma said.

During the quarter ended June 2024, external sales of API were at ₹494.6 crore, lower by 8.3%.

“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, Sun Pharmaceutical Industries.

At the operating level, earnings before interest, taxes, depreciation and amortization (EBITDA) during the June 2024 quarter rose 8.3% to ₹3,607 crore from ₹3,331.7 crore, while EBITDA margin improved by 60 basis points (bps) to 28.5% from 27.9%, YoY.

The company’s R&D investments in Q1FY25 were at ₹794 crore compared to ₹679.6 crore for Q1FY24.

“Our specialty R&D pipeline comprises 6 New Active Substances undergoing clinical studies. We have a comprehensive product offering in the US market consisting of 537 approved ANDAs while filings for 103 ANDAs await US FDA approval, including 28 tentative approvals. Additionally, the portfolio includes 51 approved NDAs while 14 NDAs await US FDA approval. For the quarter, 1 ANDA was filed and 3 approvals were received,” Sun Pharma said in a release.

At 2:35 pm, Sun Pharma shares were trading 1.02% higher at ₹1,735.40 apiece on the BSE.

Read all Q1 Results here