Sun Pharma Q3 PAT slides 26% to Rs 913.52 crore

Sun Pharmaceutical Industries' consolidated net profit fell 26.44% to Rs 913.52 crore in Q3 December 2019 (Q3 FY20) compared with net profit of Rs 1,241.85 crore in Q3 December 2018 (Q3 FY19).

Profit before tax declined 21.89% to Rs 1,351.33 crore in Q3 FY20 from Rs 1,730.11 crore in Q3 FY19.

Total revenue from operations for the December quarter stood at Rs 8,154.85 crore, up 5.36% from Rs 7,740.19 crore in Q3 December 2018. In Q3 FY20, EBITDA stood at Rs 1,725 crore with a resulting EBITDA margin of 21.5%.

India sales stood at Rs 2,517 crore, growth of 13% over Q3 last year. US finished dosage sales at $ 350 million, decline of 3% over Q3 last year. Emerging markets sales at $195 million, down by 4% Q3 last year. Rest of World sales at $155 million, growth of 24% over Q3 last year.

R&D investments at Rs 527 crore (6.6% of sales) compared to Rs. 465 crore (6% of sales) for Q3 FY19.

Dilip Shanghvi, managing director of the company said, "Our branded business in India recorded double-digit growth, for Q3 as well as for the nine month period. For the international business, we continued our efforts to enhance our portfolio in new markets by entering into a licensing agreement with AstraZeneca in China for some of our novel oncology products. Simultaneously, we continue to enhance our global specialty business which is gradually becoming a meaningful growth engine."

Shares of the drug maker were trading 1.08% lower at Rs 426.30.

Sun Pharma is a specialty generic manufacturing pharmaceutical company.

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