Sun Pharma enhances revenue guidance to 25% for Fiscal Year 14
The revised guidance takes into account the risks associated with increase in competition for some products. Guidance is at constant exchange rate.
By PTI | Updated:
NEW DELHI: Drug major Sun Pharmaceutical Industries has raised its consolidated revenue guidance to 25 per cent for the financial year ending March 2014 from 18-20 per cent.
The growth guidance was revised taking into account the performance achieved in the first half of the financial year, among other things.
"Considering the performance recorded in the first half of the year, we are enhancing our overall sales guidance for FY14.
"We expect our financial (year) 14 consolidated revenue to grow at 25 per cent instead of previous guidance of 18 to 20 per cent growth," Sun Pharmaceutical Industries Managing Director Dilip Shanghvi said during a investor call.
The revised guidance takes into account the risks associated with increase in competition for some products. Guidance is at constant exchange rate, he added.
The company had yesterday reported a four-fold increase in consolidated net profit at Rs 1,362.30 crore for the second quarter from a year earlier, when it had made a provision for possible damages in a patent case.
Total income for the quarter under consideration also rose to Rs 4,311.63 crore from Rs 2,833.13 crore for the same period year ago.
"The performance of all our businesses exceeded our plans. We continue to develop a differentiated and speciality driven product basket. We also continue to review opportunities to expand and strengthen our global footprint," Shanghvi had yesterday said.
Shares of Sun Pharmaceutical Industries were today trading at Rs 603.60 per scrip on BSE, down 0.69 from its previous close.
The growth guidance was revised taking into account the performance achieved in the first half of the financial year, among other things.
"Considering the performance recorded in the first half of the year, we are enhancing our overall sales guidance for FY14.
"We expect our financial (year) 14 consolidated revenue to grow at 25 per cent instead of previous guidance of 18 to 20 per cent growth," Sun Pharmaceutical Industries Managing Director Dilip Shanghvi said during a investor call.
The revised guidance takes into account the risks associated with increase in competition for some products. Guidance is at constant exchange rate, he added.
The company had yesterday reported a four-fold increase in consolidated net profit at Rs 1,362.30 crore for the second quarter from a year earlier, when it had made a provision for possible damages in a patent case.
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Total income for the quarter under consideration also rose to Rs 4,311.63 crore from Rs 2,833.13 crore for the same period year ago.
"The performance of all our businesses exceeded our plans. We continue to develop a differentiated and speciality driven product basket. We also continue to review opportunities to expand and strengthen our global footprint," Shanghvi had yesterday said.
Shares of Sun Pharmaceutical Industries were today trading at Rs 603.60 per scrip on BSE, down 0.69 from its previous close.
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