One of the largest drugmakers in India, Sun Pharmaceutical Limited released their quarterly financial report for the fiscal year 2019 with a net consolidated profit of Rs 982.51 crores. In the same quarter of previous year, Sun pharma posted a net loss of Rs.423 crores due to an antitrust case against its sleeping disorder pill Modafinil in the US which resulted in Rs. 951 crores in the settlement.

The adjusted profit excluding the settlement cost stood at Rs. 525 crores. Total revenue of Sun Pharma stood at Rs. 7224 crores whereas in the same quarter of previous year revenue was at Rs 6208 crores thus witnessing a rise of 16.4% on year-on-year basis. EBITDA for the quarter under review was reported at Rs. 1607 crores, resulting in a 47% increase as compared to the previous year quarter. EBITDA margin for the quarter under review was reported at 22%.

Sun Pharma’s better performance as compared to the previous year quarter can be attributed to its strong sales result in one of its major market, US. Its consolidated sales grew 8% from the year earlier. Its standalone sales grew up by 18% in the US market. Its revenue in India also grew up by 22% year on year basis to Rs. 2152 crores in the Q1 FY19.

Read EquityPandit’s Technical Analysis of Sun Pharma Outlook for the Week