Sun Pharma net profit rises 11 percent to Rs 2,058.8 crore in Q3

The Mumbai-based drug major had reported a consolidated net profit of Rs 1,852.4 crore in the October-December period of previous fiscal.

Total revenue from operations rose to Rs 9,863 crore in the third quarter as compared to Rs 8,836.7 crore in the same period of previous fiscal, Sun Pharmaceutical Industries said in a regulatory filing.

''We achieved a sustained momentum and good growth across businesses; despite rising costs, we have achieved higher profitability,'' Sun Pharma Managing Director Dilip Shanghvi noted.

The company's India business continues to grow faster than market, leading to increase in market share, he added.

''Our global specialty business for the first nine months has already crossed previous full-year revenues. We remain steadfast in our focus on topline growth, operational efficiencies and business continuity while simultaneously continuing to expand our global specialty presence,'' Shanghvi stated.

Sale of formulations in India for the third quarter stood at Rs 3,167.6 crore, up by 15 per cent over Q3 last year and accounting for 32 per cent of total sales. Similarly, formulation sales in the US stood at USD 397 million in the period under review, a growth of 6 per cent over Q3 last year and accounting for about 30 per cent of total consolidated sales.

The company said its board has declared an interim dividend of Rs 7 per share of Re 1 each for the financial year ending on March 31, 2022.