Sun Pharma's net profit in March quarter up y-o-y by 34%

23 May 2024 , 12:45 PM

Sun Pharmaceutical Industries Ltd. reported a consolidated net profit of ₹2,654.5 Crore for the March quarter, marking a 34% increase from the year-ago period.

Consolidated revenue reached ₹11,982.9 Crore, up 9% compared to ₹10,930.6 Crore in the same period last year. The company’s board declared a final dividend of ₹5 per equity share for the financial year 2023-24.

At the operating level, EBITDA increased by 8.3% to ₹3,034 Crore compared to ₹2,802 Crore in the previous fiscal year. EBITDA margin was reported at 25.3%, down from 25.6% over the same period last fiscal.

At the time of writing, the stocks were trading at ₹1491.35 which is a 3.12% drop than the previous close. The stock has gained over 60.08% in the last one year, and 18.34% since the beginning of the year.

Chairman and Managing Director, Dilip Shanghvi, stated, “During FY24, two of our businesses surpassed $1 billion in annual sales, namely Global Specialty and Emerging Markets. This achievement of critical mass in key markets is a testimony to several years of hard work put in by respective teams. We shall continue to build our specialty portfolio and invest further to gain scale across our businesses.”

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