Sun Pharma Q3 Results: Profit rises 5% YoY to Rs 2,166 crore; dividend declared at Rs 7.50/share

Sun Pharma on Tuesday reported consolidated net profit of Rs 2,166 crore for the quarter ended December 2022, up 5% when compared with the previous year period. The profit was Rs 2,058 crore in the same quarter last year.

An ET NOW poll of analysts had anticipated the profit figure at Rs 2,077 crore.

Revenue from operations during the quarter rose 14% to Rs 11,240 crore against Rs 9,863 crore in the corresponding quarter of the previous year.


The company also announced an interim dividend of Rs 7.50 per equity share for the financial year 2022-23.

The record date for the said interim dividend is fixed as February 08 and will be paid on or before February 2023.

On Tuesday, the stock was trading 1.35% lower at Rs 1,037.50 on NSE. So far this year, the scrip is up about 4.16%.

The company informed exchanges that the term of Kalyanasundaram Subramanian, Whole-time Director of the company, would end on February 13 and he will retire from the position with effect from that date.

“Specialty is expected to continue as a key growth driver for Sun. We are investing to scale up this business, especially in our core therapy areas," said Dilip Shanghvi, Managing Director, Sun Pharma.

The company has seen India formulation sales at Rs 3,391 crore, up 7.1% over the third quarter last year, while US formulation sales rose 6% to $422 million.

EBITDA for the December quarter stood at Rs 3,003 crore, rising 15% year-on-year, with margins at 26.7%.
Global specialty sales stood at $235 million during the quarter, including a $12.5 million milestone received in Q3. This segment accounted for 16% of overall sales.

The company has made R&D investments worth Rs 670 crore, compared with Rs 5,47 crore in the third quarter of the previous financial year.

Meanwhile, emerging markets formulation sales came in at $257 million during the third quart, rising 7.7% from the same quarter last year.