Adverisments

Sun Pharma net rises 29% to ₹2,047 crore


The company has repaid debt of about $209 million in the first half of FY22 compared with the debt as of March 31, 2021.

Sun Pharmaceutical Industries Limited reported second-quarter consolidated net profit surged 29% to ₹2,047 crore against the adjusted net profit of the year-earlier period. Gross sales increased 13% year-on-year to ₹9,557 crore.

India sales at ₹3,188 crore were 26% higher over the same quarter last year and U.S. finished dosage sales grew 8% to $361 million over Q2 last year.

“Following our good Q1 performance, we have sustained the positive momentum in Q2 with a topline growth of 13% y-o-y, driven by broad-based growth across multiple geographies,” said managing director Dilip Shanghvi.

“Our global specialty business has grown by 43% over Q2 last year. Ilumya has grown both y-o-y and sequentially. Our India business continues to do well with a growth of 26% y-o-y. We remain steadfast in our focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent launch of Winlevi in the U.S. and Ilumya in Canada is a step forward in this direction,” he said.

The company has repaid debt of about $209 million in the first half of FY22 compared with the debt as of March 31, 2021. With this debt repayment, Sun Pharma had a net cash of about $200 million as of September 30, 2021, on ex-Taro basis.

Taro posted Q2 FY22 sales of $132 million, lower by about 8% y-o-y, and adjusted net profit of about $25 million, lower by 45% over Q2 last year.

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