Sun Pharmaceuticals Industries Ltd Q3FY18
Consolidated Results Q3FY18: (Rs. in crore)
|EBITDA Margin (%)||21.8|||
|Net Profit (adjusted)||365.39||[75.2]|
- The decline in the revenue is primarily due to the decline in the US business, which declined 35% yoy to $328mn. This was triggered by pricing pressure in the US market and decline in sales of gImatinib and gOlmesartan authorized generics.
- Sun Pharma’s subsidiary Taro also reported weak results earlier this month with 30% and 87% yoy decline in revenue and PAT.
- Domestic sales grew 6% yoy to Rs2,085cr.
- Emerging market sales grew 10% yoy to $189mn while ROW sales grew 6% yoy to $120mn.
- Sun Pharma’s gross margins declined by more than 300bps yoy and qoq indicating impact of the pricing pressure in the US.
- During the quarter, company has reported taxes higher by Rs513cr due to the re-measurement of the company’s deferred tax assets as a result of change in the US tax rates.
- In Q3FY18, company filed 4 ANDAs and received 5 approvals. Its cumulative ANDA pipeline includes 418 ANDAs with 126 ANDAs awaiting approval.
- Company has said that the results indicate gradual improvement in the performance of the company.
Sun Pharmaceuticals Industries Ltd ended at Rs. 574.45, down by 14.9 points or 2.53% from its previous closing of Rs. 589.35 on the BSE.
The scrip opened at Rs. 592.05 and touched a high and low of Rs. 593.90 and Rs. 570 respectively. A total of 73,58,200(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.
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