Sun Pharma Q3: PAT, EBITDA Margin Rise; Ranks #1 in Indian Pharma Market
By Malvika Gurung
Investing.com — The pharmaceutical behemoth Sun Pharmaceutical Industries (NS:) released its earnings result for the December ended quarter on Tuesday, with bottomline growth in line with the Street’s estimates.
The drugmaker recorded a 5.2% rise in net profit for the December quarter at Rs 2,166 crore from Rs 2,058.8 crore year-on-year, at par with Bloomberg’s estimate of Rs 2,086.12 crore.
Its revenue climbed 14% YoY to Rs 11,241 crore, and EBITDA advanced 15.2% YoY to Rs 3,003.7 crore. The pharma giant’s EBITDA margin expanded to 26.7% in Q3 FY23 from 26.5% in the corresponding quarter of last year.
Sun Pharma’s India formulation sales grew by 7.1% YoY to Rs 3,391.9 crore in Q3 FY23, accounting for about 31% of total consolidated sales, while the US formulation sales grew 6.3% YoY to $422 million in the period.
Further, the Mumbai–based pharma heavyweight ranks No. 1 in the Indian pharmaceutical market according to AIOCD AWACS MAT December 2022 report, and holds a market share of 8.5% in the industry worth over Rs 1,800 billion in Q3 FY23.
In the December 2021 quarter (Q3 FY22), Sun Pharma’s market share stood at 8.2%.
“Specialty is expected to continue as a key growth driver for Sun. We are investing to scale up this business, especially in our core therapy areas. Proposed Concert acquisition is a step forward in this direction,” said the company’s MD Dilip Shanghvi.
Sun Pharma also declared an interim dividend of Rs 7.5/share for FY23. To know more about it, continue reading Pharma Giant Announces Rs 7.5/Share Interim Dividend: Record, Payment Dates