Sun Pharmaceuticals jumped 9.49% to Rs 770 after the pharma major posted a consolidated net profit of Rs 1,444.10 in Q1 FY22 as compared to a net loss of Rs 1,655.6 crore registered in Q1 FY21.
Consolidated sales from operations stood at Rs 9669.4 crore, registering a growth of 29% over Q1 FY21. The drug company posted a profit before tax of Rs 1,804.2 crore in Q1 FY22 as compared to a pre tax loss of Rs 2183.9 crore registered in Q1 FY21.EBITDA stood at Rs 2,771.8 crore, up by 59% year on year. Meanwhile, EBITDA margin came to 28.7% in Q1 FY22. Consolidated R&D investment for Q1FY22 stood at Rs 592.6 crore as compared to Rs 420.6 crore in Q1 FY21.
India sales were at Rs 3,308.4 crore, up by 39% as compared to Q1 last year. US finished dosage sales stood at $380 million, a growth of 35% over same quarter last year. Emerging Markets sales stood at $218 million, up by 25% over Q1 last year. Meanwhile, Rest of World sales were at $185 million, up by 35% over Q1 last year.
Taro, a US-based subsidiary of Sun Pharmaceutical Industries, posted sales of $147 million, up by 25% year on year in Q1FY22. Adjusted net profit stood at $41 million in Q1 FY22, reporting a growth of 42% over Q1 last year. Taro's reported net loss for Q1FY22 was at $18.8 million. It has provided $60 million, which reflects an additional legal contingency provision related to ongoing multi-jurisdiction civil antitrust matters
Dilip Shanghvi, MD of the company said, We witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of Covid products. Our India business continues to do well while our global specialty revenues have grown over Q4. We continue to focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent in-licensing of Winlevi for US and Canada is a step forward in this direction.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
Powered by Capital Market - Live News