Sun Pharmaceutical Industries Ltd.'s third quarter profit rose, meeting analysts' estimates.
The company's consolidated net profit increased 15% year-on-year to Rs 2,903.4 crore in the quarter-ended Dec. 31, 2024, according to an exchange filing on Friday. Analysts tracked by Bloomberg had estimated a profit of Rs 2,847 crore.
Sun Pharmaceutical Q3 Highlights (Consolidated, YoY)
Revenue up 10.5% at Rs 13,675.46 crore (Bloomberg estimate: Rs 13,378 crore).
Ebitda up 25% at Rs 4,192 crore (Estimate: Rs 3,686 crore).
Margin expands 262 basis points to 30.7% versus 28.08% (Estimate: 27.6%).
Net profit up 15% at Rs 2,903.4 crore versus Rs 2,523.75 crore. (Estimate: Rs 2,847 crore).
The company declared an interim dividend of Rs 10.5 per share for fiscal 2025, with the record date for the same fixed as Feb. 6.
Sun Pharma's formulation sales in India stood at Rs 4,300 crore in the December quarter, growing by 13.8% over the year-ago period and accounting for approximately 32% of total consolidated sales, according to a release. During the quarter, the company launched 12 new products in the Indian market.
Formulation sales in the US stood at $474 million in the third quarter, declining by 0.7% as against the year-ago period. It, however, accounted for approximately 30% of the total consolidated sales.
In the emerging markets, formulation sales stood at $277 million in the December quarter, growing by 10.1% over the year-ago period and accounting for approximately 17% of total consolidated sales.
Formulation sales in rest of the world markets—excluding India, US and emerging markets—stood at $259 million in the December quarter, growing by 21% over the year-ago quarter. It accounted for approximately 16% of total consolidated sales.
External sales of active pharmaceutical ingredient came in at Rs 567.8 crore in the December quarter, growing by 21.8% over the last year, the company said. For the first nine months, API sales were at Rs 1,596.2 crore, growing by 6.2% over same period last year, it added.
Meanwhile, Sun Pharmaceutical's consolidated research and development investment stood at Rs 845 crore, or 6.3% of sales, during the third quarter as compared to Rs 824 crore in the year-ago period, the release said.
Shares of Sun Pharmaceutical closed 0.12% lower at Rs 1,743.1 apiece on the BSE, compared to 0.97% rise in the benchmark Sensex.
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