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    Net profit at Rs 1,984.5 crore, tops estimate

    Net profit at Rs 1,984.5 crore, tops estimate


    Sun Pharma Q4 result: Analysts had pegged Sun Pharma’s net profit for the fourth quarter at Rs 1,808.1 crore.

    Sun Pharmaceutical Industries on May 26 reported a net profit of Rs 1,984.5 crore for the quarter ended March, topping the estimate of Rs 1,808.1 crore pegged by a poll of brokerages collated by Moneycontrol.

    The company reported a net loss of Rs 2,227.38 crore in the corresponding quarter a year ago, largely on the back of a one-time loss of Rs 3,935.7 crore.

    Sequentially, Sun Pharma’s net profit declined 8.3 percent from Rs 2,166 crore in the previous quarter. The sequential decline came on the back of a moderation in the specialty business and the impact of the US FDA’s ban on the company’s export-oriented Halol unit.

    Revenue for the fourth quarter grew 15.7 percent year-on-year to Rs 10,930.6 crore, as against Rs 9,446.8 crore in the same period last fiscal. The topline was also slightly above the estimate of Rs 10,905.3 crore.

    The yearly rise in revenue was aided by double-digit growth in the specialty segment and robust sales in the domestic formulations business, along with some contribution from the sales of the generic Revlimid in the US market.

    The operational performance also improved but not significantly, as it was weighed down by higher research and development costs for Concert Pharma post-acquisition and the adverse impact of the Halol ban.

    The EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin for the quarter under review came at 25.6 percent, as against 24.8 percent in the year-ago period. The EBITDA margin in the previous quarter was 26.7 percent.

    Analysts and investors will closely track updates on the import ban at the Halol unit and the company’s growth plans for the specialty business.

    (This is a developing story, please come back for updates)




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