Sun Pharma's Q2 PAT rises by 10.5% YoY to Rs 2,262 crore

2 Nov 2022 , 02:48 PM

Sun Pharmaceutical Industries, with its headquarters in Mumbai, reported an increase in net profit of 10.5% year over year (YoY) during the second quarter of the current fiscal year, supported by a 13.1% increase in gross sales. Gross sales for the quarter totaled Rs10,809.2 crore, an increase of 13.1% over Q2 last year. The net profit for the quarter was Rs2262.2 crore, an increase of 10.5% YoY, influenced by reduced other income.

On tuesday at 3:00 p.m, Sun Pharma shares were up 1.68 % on the BSE, trading for Rs1,033 per share. Sales of US formulations totaled $412 million, an increase of 14.1% over Q2 of the previous year. The global specialty sales surpassed $200 million, increasing by 27.5% over Q2 of the previous year. The business said that clinic traffic in the US has returned to pre-Covid levels. The generic business is still under pricing pressure, though.

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