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Sun Pharma Q3 results: Net profit up 15% at Rs 2,905 cr on strong sales

Sales in India, Sun Pharma's largest revenue-generating region, rose 14 per cent to Rs 4,300 crore, or about 31 per cent of total sales

Sun Pharma

Sun Pharma

Reuters HYDERABAD/BENGALURU

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Sun Pharmaceutical, India's largest drugmaker by revenue, reported a bigger-than-expected quarterly profit on Friday, aided by strong sales in the domestic market.

The Mumbai-based firm's consolidated net profit rose 15 per cent to Rs 2,903 crore ($335.3 million) in the third quarter, beating analysts' average estimate of Rs 2,881 crore, according to data compiled by LSEG.

Sales in India, Sun Pharma's largest revenue-generating region, rose 14 per cent to Rs 4,300 crore, or about 31 per cent of total sales. That was bigger than the 11 per cent increase in the previous quarter.

Its high-margin global specialty pharmaceutical segment, which includes medicines for conditions such as alopecia and psoriasis, reported a 17.5 per cent jump in sales to $370 million, or 21 per cent of total sales.

 

Overall, the company's revenue rose 10.5 per cent to Rs 13,675 crore, surpassing analysts' estimates of Rs 13,422 crore.

That was despite US sales increasing just 0.7 per cent.

Most of India's generic drugmakers derive a significant share of revenue from the United States, where lower drug prices due to stiff competition have been weighing on profit margins.

Among its rivals, Dr Reddy's missed profit estimates for the quarter, while Cipla beat expectations. However, both the generic drugmakers saw muted growth in their key North American market. ($1 = 86.5860 Indian rupees)

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First Published: Jan 31 2025 | 4:01 PM IST

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