Sun Pharma net profit doubles to Rs 1,852 crore in Q3
New Delhi: Drug major Sun Pharmaceutical Industries On Friday reported an over two-fold jump in its consolidated net profit to Rs 1,852.48 crore for the quarter ended December on account of robust sales in most of its markets.
The company had posted a net profit of Rs 913.52 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing.
Consolidated total revenue from operations of the company stood at Rs 8,836.78 crore for the quarter under consideration. It was Rs 8,154.85 crore for the same period a year ago, it added.
The board has proposed an interim dividend of Rs 5.50 per share for FY21, the company said.
"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 Q3 last year," Sun Pharmaceutical Industries MD Dilip Shanghvi said.
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 Rs 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 Rs 450 crore, down 10.5 per cent over Q3 last year, Sun Pharma said.