Sun Pharma reports 31 pc jump in Q1 net profit at Rs 1,387 crore

Sun Pharmaceutical on Tuesday reported a net profit of Rs 1,387 crore in the April to June quarter of 2019-20, up 31 per cent in the year-on period.

The gross sales were up 16 per cent at Rs 8,259 crore. While India sales were up 8 per cent at Rs 2,314 crore, the US finished dosage sales moved up by 12 per cent to 424 million dollars.

The emerging markets sales were flat at 194 million dollars. Rest of the world sales showed a growth of 56 per cent at 167 million dollars. The company made R & D investments of Rs 422 crore (5.1 per cent of sales) compared to Rs 500 crore (7 per cent of sales) in Q1 FY19.

"We have recorded growth across most of the markets for the quarter and our performance is in-line with our full-year guidance," said Managing Director Dilip Shanghvi.

"We have recorded growth across most of the markets for the quarter and our performance is in-line with our full-year guidance. We are consistently focusing on improving our efficiencies and cost structure to ensure reasonable returns for our generics business," he said in a statement.

The recent out-licensing of Tildrakizumab and Cequa for Greater China market and the regulatory filing of Tildrakizumab in Japan reflects the company's global aspirations for the specialty business. Ilumya/Ilumetri is gradually gaining traction in the United States and westernEurope, said Shanghvi.

Sun Pharma is the world's fifth largest speciality generic pharmaceutical company and India's top pharmaceutical company. It has 42 manufacturing facilities across six continents.