Sun Pharma Q2 Results: Net profit rises 28% YoY at ₹3,040.16 crore

Sun Pharma Q2 Results: Sun Pharmaceutical Industries Ltd on Monday reported an 28% year-on-year rise in its consolidated net profit for the fiscal’s second quarter ended September (Q2FY24) to ₹3,040.16 crore. The company had reported a profit of ₹23,755.1 crore in the year-ago period. Sequentially, the consolidated net profit was up 7.2%.

EBITDA for the quarter stood at Rs 3,939 crore, showing a growth of 24% YoY, with a resulting EBITDA margin of 29.6%. Formulation sales in India jumped 11% YoY to Rs 4,265 crore, accounting for about 32% of total consolidated sales. For the first half, sales were Rs 8,410 crore.

US formulation sales during the second quarter grew 20% YoY to $517 million and accounted for 33% of total sales.

The emerging markets sales came in at $293 million for the September quarter, growing by 3% YoY.

Formulation sales in Rest of World (ROW) markets, meanwhile dropped 3% YoY to $199 million in Q2FY25.

For API, external sales rose 7% YoY to Rs 534 crore in the reporting second quarter.

“Our API business imparts benefits of vertical integration and continuity of supply chain for our formulations business. We continue to focus on increasing API supply for captive consumption for key products,” Sun Pharma said in a release.

Consolidated R&D (research and development) investments during the quarter were at Rs 793 crore.

Sun Pharma said it has recently strengthened the specialty pipeline through an agreement with Philogen for commercializing late stage candidate Fibromun, upon approval.

With Fibromun, its product basket for dermatologists has expanded further.

“We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market,” said Dilip Shanghvi, Chairman and Managing Director, Sun Pharma.

On Monday, Sun Pharma shares were trading 2% higher at Rs 1,901 on NSE.