Sun Pharma Q4: Consolidated net profit at Rs 1,984 crore, revenue up 15%

Sun Pharmaceutical Industries Ltd, on Friday, posted a consolidated net profit after tax (PAT) of Rs 1,984 crore for the March quarter. The company reported loss of Rs 2,277 crore a year ago, the company statement said.

The company’s consolidated revenue from operation rose by 15.7 per cent to Rs 10,931 crore for the March quarter as compared to Rs 9,447 crore in the year-ago period.

In a regulatory filing, the company said, “the board of directors recommended final dividend of Rs 4 per equity share of Re 1 each of the company is recommended subject to approval of the shareholders at the ensuing 31st Annual General Meeting and which shall be paid within the timelines as required under the Companies Act, 2013.”

“I am pleased with well-rounded growth demonstrated in FY23 by the company. Several of our businesses including Specialty, India and Emerging markets have continued to progress well. Our Specialty business remains on growth path and we are committed to continue scaling it up,” said Dilip Shanghvi, Managing Director of the company.

“Acquisition of Concert helps further strengthen our portfolio in dermatology. I believe deuruxolitinib can become a leading product to address highly unmet need in alopecia areata patients,” he said.

Formulation sales in the US for the full year FY23 were $1,684 million up 10.3 per cent over the same period last year. US formulation sales were $430 million for Q4FY23, a growth of 10.5 per cent over Q4 last year and accounted for about 33 per cent of total consolidated sales for the quarter, the company said in a BSE filing.

Taro’s full year FY23 sales were $573 million, up about 2.1 per cent over same period last year. Taro’s reported net profit for FY23 was $25.4 million compared to $58.3 million. Taro posted Q4FY23 sales of $ 147 million, up by 2.3 per cent YoY and net profit of about $6.9 million, lower by 74.7 per cent over adjusted net profit of Q4 last year.