Sun Pharma, on Tuesday reported 286.1% surge in the net profit taking its profit to ₹1,241.1 Crore for the third quarter of the current Fiscal as compared to net profit of ₹ 321.5 Crore for the corresponding quarter of previous fiscal.
Sun Pharma, India’s largest drug maker reported a gain of 17% in revenue from operations taking its revenue for 3rd quarter to ₹ 7,933.5 Crore. The EBTIDA margins stood at 27.8% beating the estimates of the experts by large margin.
“Our focus on execution is reflected in the Q3 performance. We remain committed towards executing our global specialty strategy, strengthening our core operations and enhancing our overall efficiencies,” said Dilip Shanghvi, Managing Director, Sun Pharma.
He also commented on Sun Pharma’s US operations, “The Ilumya launch in US has been well received by doctors. We recently commercialized Xelpros in the US and are preparing to launch Cequa in the coming months.”
The Pharmaceuticals company registered 10% rise in the sales in the US market while sales in Indian market went up by around 7% for Q3 compared to Q3 of the previous fiscal.
Sun Pharma holds 8.2% of the total 129,000 Crore Indian pharmaceuticals Market and is also one of the major pharmaceuticals company is the US. Eyeing on the US market, where it has a good presence its has filed for 564 ANDAs awaiting for the approval by the US health regulator- United States Food and Drug Administration (USFDA).
After such a strong quarterly results, the shares of Sun Pharma gained about 4.2% on Wednesday morning, as per the National Stock Exchange(NSE).