Sun Pharma Q2 net profit rises by 90%; India sales up by 11%

Pharma-giant Sun Pharma reported consolidated net profit of Rs 2471.11 crore for the second quarter September 30, 2016, recording robust rise of 90.20% year-on-year (yoy) and 8.96% quarter-on-quarter (qoq).

Consolidated total income from operations was at Rs 8265.12 crore, which saw increase of 20.24% yoy and sequentially 0.26% qoq.

For this Q2, it’s consolidated operating profit (EBITDA) stood at Rs 2666 crore, while its operating profit margin (OPM) at 34.3%.  

Dilip Shanghvi, Managing Director of the Company said, “The synergies from the Ranbaxy acquisition are gaining momentum and we are on track to achieve the targeted benefits. These synergies will continue to help in funding our emerging specialty businesses. Post the close of the quarter, we further strengthened our branded ophthalmic pipeline through the acquisition of Ocular Technologies. We were also very happy to announce the detailed results for Tildrakizumab Phase-3 trials which validate the potential of this product for psoriasis treatment.”

On geographical basis, India sales were at Rs.2,009 crores, up by 11% over Q2 last year. While US finished dosage sales at US$ 555 million up by 9% over Q2 last year. The US sales also include the benefit of the 180-day exclusivity for Imatinib which lasted till July-2016.

Emerging Markets sales at $ 170 million up by 22% over Q2 last year.  Rest of World sales at US$ 79 million, growth of 3% over Q2 last year.

While on standalone front, Sun Pharma reported net profit of Rs 184.54 crore against the net loss of Rs 600.23 crore of September 2015 and Rs 151.46 crore of June 2016.  

Shares of Sun Pharma soared over Rs 33 or 5.04% on BSE, trading at RS 700.55.