Sun Pharmaceutical Industries gained 1.87 per cent to Rs 1,034.90 after the pharma’s consolidated net profit went up at 10.51% to Rs 2,262.22 crore on a 13.11% increase in revenue from operations to Rs 10,809.19 crore in the second quarter of FY23 over the second quarter of FY22.
Also, profit before tax (PBT) grew 5.51 per cent to Rs 2,412.43 crore in the second quarter of FY23 as compared to Rs 2,286.41 crore recorded in Q2FY22.
The R&D investments stood at Rs 570.98 crore in the second quarter of FY23 compared to Rs 536.41 crore posted in the second quarter of FY22. EBITDA was at Rs 2,956.5 crore (including other operating revenues), up 12.4% year-on-year. EBITDA margin for the second quarter of FY23 stood at 27% compared with the 27.3% reported in the second quarter of FY22.
The formulation of sales in India for the second quarter of FY23 was at Rs 3,460 crore, rising 8.5% from the second quarter of FY22. India formulation sales accounted for about 32% of total consolidated sales.
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Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries, said “For Q2 we recorded double-digit topline growth and strong margins driven by market share gain in India, sustained ramp-up of our global speciality business and growth in Emerging Markets. Global speciality business has grown by 27.5% driven by Ilumya, Cequa and Winlevi. We continue to focus on expanding our global speciality business and growing all our businesses.”
Fourth largest speciality generics company and largest pharmaceutical company in India.
