Sunpharma Q3 profit up 11 percent
Published On: Monday, January 31, 2022 | By: Team KnowMyStock
Shares of Sun Pharmaceutical Industries Ltd gained 2.5 percent on January 31 after the company reported an 11% rise in its consolidated net profit to Rs 2,058.80 crore in the December quarter. The pharma major had reported a net profit of ₹1,852 crores in the December quarter of last year. Consolidated net sales for the quarter increased 11.41% from a year ago to Rs 9,814.17 crore. Total cost advanced 12% to Rs 7,829.38 crore. The company's board has also declared an interim dividend of ₹7 for the financial year ending on March 31, 2022. Operating EBITDA margin declined sharply to 17.12% in the quarter from 20.43% a quarter ago and 20.97% a year ago. The sale of formulations in the domestic market during the third quarter was at ₹3,167 crores, up by 15% over last year and accounting for 32% of total sales.
“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 market, leading to 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," Sun Pharma MD Dilip Shanghvi said.
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