Net profit for Sun Pharma's first quarter fell 1.9% to Rs 2,022.5 crore

On August 3, Sun Pharmaceutical Industries Ltd. stated that its consolidated net profit for the first quarter of the current fiscal year fell by 1.9% YoY to Rs 2,022.5 crore. For the same quarter last year, it recorded a net profit of Rs 2,060.8 crore.

The Mumbai-based pharmaceutical company also recorded an increase in consolidated revenue of 11%, from Rs 10,761.7 crore to Rs 11,941 crore.

Compared to the same quarter last fiscal year, the company's EBITDA for the quarter was Rs 3,332 crore, up Rs 884.4 crore. The EBITDA margin was 27.9% for the quarter, up 230 basis points from the same time last year.

In comparison to the same quarter the previous year, the company recorded R&D investments at Rs. 679.6 crore as compared to Rs. 460.8 crore. The company disclosed that five molecules are now undergoing clinical trials as part of their specialist R&D pipeline.

In India, formulation sales for Q1FY24 were 3,560.4 crores, an increase of 5.1% over the same period in the previous year. About 30% of all consolidated sales were from sales of formulations in India. Sales in the US totaled $47.1 million, a 12% increase over the baseline.

Source: Media Reports