Sun Pharma Q3 results: Net profit increases 15% at Rs 2,524 crore

The company reported a consolidated profit after tax of Rs 2,524 crores ($304 million) for the quarter ended Dec. 31, beating analysts' estimate of Rs 2,417 crore as per LSEG data.

Sales in its US formulations business rose nearly 15 per cent to Rs 3,974 crore, while sales from its India formulations rose more than 11 per cent to Rs 3,779 crore.

Both businesses together account for more than half of the company's total sales.

Sun Pharma makes generic and specialty medications for chronic and acute treatments, over-the-counter medications, anti-retrovirals, and active pharmaceutical ingredients.

Its global specialty drug sales were $296 million, up 24 per cent excluding a 'milestone' of $20 million, the company said, without offering further details. Speciality drugs are costlier and are used to treat complex chronic diseases.

Revenue from operations rose 10 per cent to Rs 12,381 crore in the December quarter.

Sun Pharma's results follow Dr Reddy's and Cipla, both of whom beat their respective third-quarter profit estimates.

Shares of Sun Pharma rose 3.5 per cent after results. During the reporting quarter, the shares rose 8.7 per cent.