Sun Pharmaceutical Industries gained 1.87% to Rs 1,034.90 after the pharma major's consolidated net profit rose 10.51% to Rs 2,262.22 crore on 13.11% increase in revenue from operations to Rs 10,809.19 crore in Q2 FY23 over Q2 FY22.
Consolidated profit before tax grew 5.51% to Rs 2,412.43 crore in Q2 FY23 as against Rs 2,286.41 crore recorded in the same period a year ago.
The R&D investments stood at Rs 570.98 crore in Q2 FY23 as compared to Rs 536.41 crore posted in Q2 FY22, registering a growth of 6.44%. EBITDA was at Rs 2,956.5 crore (including other operating revenues), up 12.4% YoY. EBITDA margin for Q2FY23 stood at at 27% as against 27.3% reported in corresponding quarter previous year.
Sales of formulations in India for Q2 FY23 were at Rs 3,460 crore, rising 8.5% from Q2 FY22. India formulation sales accounted for about 32% of total consolidated sales.
Formulation sales in the US stood at $412 million in Q2 FY23, recording a growth of 14.1% as against the same period last year; accounting for over 30% of total consolidated sales.
The emerging markets formulation sales were at $259 million for quarter ended 30 September 2022, registering a growth of 6.7% over Q2 FY22 and accounting for about 19% of total consolidated sales for the quarter.
Formulation sales in Rest of World (ROW) markets, excluding US and Emerging Markets, were $181 million in Q2 FY23, lower by about 3.8% over Q2 FY22 and accounting for approximately 13% of total consolidated sales.
Dilip Shanghvi, managing director, Sun Pharmaceutical Industries, said, For Q2, we recorded double-digit topline growth and strong margins driven by market share gain in India, sustained ramp-up of our global specialty business and growth in Emerging Markets. Global specialty business has grown by 27.5% driven by Ilumya, Cequa and Winlevi. We continue to focus on expanding our global specialty business and growing all our businesses.
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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