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Sun Pharma Q3 net doubles to ₹1,852 cr; declares interim dividend of ₹5.50 per share
- Consolidated total revenue from operations increased 8% to ₹8,837 cr
- 'Our Q3 performance reflects continued profitable business growth in a market that is gradually recovering from the impact of the global pandemic,' says MD Dilip Shanghvi
Drug major Sun Pharmaceutical Industries on Friday reported over two-fold jump in consolidated net profit at ₹1,853 crore for the quarter ending 31 December, 2020. It was ₹914 crore in the year-ago period.
Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crore a year ago.
The company declared an interim dividend of ₹5.50 per share.
EBITDA for the quarter-ended December rose nearly 31% to ₹2,406 crore.
"Our Q3 performance reflects continued profitable business growth in a market that is gradually recovering from the impact of the global pandemic. Most of our businesses have done well over the third quarter last year," Sun Pharmaceutical Industries MD Dilip Shanghvi said.
The company's stock jumped 3.91 per cent to close at ₹586.45 on the BSE. During the trade, it gained 6.28 per cent to ₹599.90.
On the NSE, it jumped 4.26 per cent to close at ₹588.40.
In terms of traded volume, 9.44 lakh shares were traded at the BSE and over 2.25 crore units on the NSE during the day.
The company's global specialty sales have continued to show an improving trend and have crossed pre-COVID levels. Global sales of its specialty product Ilumya for the nine-month period ended December 2020 have already crossed last full year's sales (FY20), he added.
India sales for the third quarter ended December 31, 2020, stood at ₹2,753 crore, a growth of 9.4 per cent compared to Q3 last year, accounting for 31 per cent of total global sales, the company said.
Sales in the US were at USD 374 million, up 7 per cent over third quarter of FY20, accounting for about 31 per cent of total consolidated sales, it added.
The company's sales in emerging markets (EM) were at USD 204 million for Q3, a rise of 4.7 per cent over Q3 last year. Overall sales in EM accounted for about 17 per cent of the total consolidated sales for the quarter, Sun Pharma said.
Formulation sales in Rest of World (ROW) markets, excluding the US and EM, were USD 173 million in Q3FY21, up by 11.7 per cent over Q3 last year and accounted for approximately 15 per cent of total consolidated sales, it added.
For Q3FY21, external sales of API (Active Pharmaceutical Ingredient) were at ₹450 crore, down 10.5 per cent over Q3 last year, Sun Pharma said.
With PTI n
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Business NewsCompaniesCompany ResultsSun Pharma Q3 net doubles to ₹1,852 cr; declares interim dividend of ₹5.50 per share
First Published:29 Jan 2021, 02:28 PM IST
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