Sun Pharmaceutical Q3 Results: Profit Rises 15%, Meets Estimates
Sun Pharmaceutical's consolidated net profit increased 15% year-on-year to Rs 2,903.4 crore in the December quarter.
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.
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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.
