India’s largest drug-maker, Sun Pharmaceutical Industries, posted a 15 per cent year-on-year (Y-o-Y) growth in its consolidated net profit to Rs 2,903.3 crore for Q3FY25, while revenue from operations during the period grew by 10.5 per cent to Rs 13,675.4 crore.
Sequentially, revenue from operations grew by 2.9 per cent, whereas profit after tax (PAT) fell by 4.5 per cent.
Both profit and revenue were in line with Bloomberg estimates.
Domestic formulation sales increased by 13.8 per cent to Rs 4,300.4 crore Y-o-Y. This segment represents 32 per cent of the company's total revenue. For the first nine months of FY25, sales stood at Rs 12,710.0 crore, marking a 13.7 per cent increase Y-o-Y. Twelve new products were launched in India during the quarter.
US formulation sales, which constitute 30 per cent of total revenue, experienced a decline of 0.7 per cent, reaching $474 million. Despite this, year-to-date US sales have grown by 5.7 per cent.
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Sales in emerging markets rose by 10.1 per cent to $277 million, accounting for 17 per cent of total revenue. For the first nine months of FY25, sales totalled $854 million, reflecting a 7.2 per cent increase over the previous year.
The rest of the world markets, excluding India, the US, and emerging markets, delivered strong growth of 21 per cent to $259 million, accounting for 16 per cent of total revenue.
Active pharmaceutical ingredient (API) sales also performed well, growing by 21.8 per cent to Rs 567.8 crore.
Sun Pharma’s consolidated research and development (R&D) investment for the quarter stood at Rs 845 crore, accounting for 6.3 per cent of total sales, compared to Rs 824.5 crore in Q3FY24. For the first nine months, R&D expenditure stood at Rs 2,431.9 crore, or 6.2 per cent of total sales.
The company is focusing on both specialty and generic drug development across various markets. Its specialty pipeline includes seven novel entities currently in clinical trials.
Sun Pharma has a total of 541 approved abbreviated new drug applications (ANDAs), with 109 ANDA filings currently awaiting US Food and Drug Administration (FDA) approval, including 28 tentative approvals. Additionally, the company has 51 approved new drug applications (NDAs), while 13 NDAs are still pending approval. During the quarter, Sun Pharma filed six new ANDAs and received two ANDA approvals.
The firm’s stock fell by 0.12 per cent to Rs 1,743.10 a piece on the BSE. The results were announced during market hours on Friday.