Sun Pharma reports 11% yoy growth in revenue and profits

31 Jan 2022 , 04:04 PM

Sun Pharmaceuticals Ltd. on Monday announced its result for the quarter ending December 2021, the company reported a satisfactory performance fulfilling investor sentiments.

It reported consolidated revenue of Rs 9814.20 crore for Q3 FY’22 against Rs 8,809 crore for Q3 FY’21, registering a growth of 11% YoY. While its revenue for the 9M period ending December 2021 stood at Rs 29040.34 crore as against Rs 24769.34 crore for the corresponding 9M period, reflecting a growth of 17% YoY.

The company reported an EBITDA of Rs 2557.40 crore for Q3 FY’22 against Rs 2368 crore for Q3 FY’21, up by 8% YoY. While EBITDA for the 9M period stood 27% YoY higher at Rs 7890 crore.

Sun Pharma’s PAT stood at Rs 2058.80 crore for the quarter ending December 2021 as against Rs 1,852.48 crore, reflecting a growth of 11% YoY. While PAT for the 9M period ending December 2021 stood at Rs 6,085.10 crore, reflecting a growth of 33% YoY.

“We achieved a sustained momentum and good growth across businesses; despite rising costs, we have achieved higher profitability. Our India business continues to grow faster than the market, leading to an increase in market share. Our global specialty business for the first nine months has already crossed previous full-year revenues. We remain steadfast in our focus on topline growth, operational efficiencies, and business continuity while simultaneously continuing to expand our global specialty presence,” commented Dilip Shanghvi, Managing Director of Sun Pharma.

Formulation sales in the US were US$ 397 million, a growth of 6% over Q3 last year and accounting for about 30% of total consolidated sales. For the first nine months, sales were US$ 1,138 million, recording a growth of 15% over the same period last year.

Sun Pharma ended at Rs834.15 up by Rs6.9 or 0.83% from its previous closing of Rs827.25 on the BSE. The scrip opened at Rs835.90 and touched an intraday high and low of Rs849.50 and Rs820.35 respectively.