Sun Pharma Ltd – A shining quarterly performance

Sun Pharma quarterly results
30/07/2021

Sun Pharma net profits turned around to Rs.1,860 crore from net loss of Rs.-1,320 crore on lower exceptional loss provisions on Taro Pharma lawsuits. Meanwhile, Sun reported 28.13% growth in sales at Rs.9,719 crore. The growth was driven by core pharma growth, low base in Jun20 and higher sales of COVID products. 

 

Sun pharma FY22 Q1 Results

Rs in Crore

Jun-21

Jun-20

YOY

Mar-21

QOQ

Total Income (Rs cr)

₹ 9,718.74

₹ 7,585.25

28.13%

₹ 8,522.98

14.03%

Operating Profit (Rs cr)

₹ 2,317.86

₹ 1,347.59

72.00%

₹ 1,494.95

55.05%

Net Profit (Rs cr)

₹ 1,859.92

₹ -1,319.84

N.A.

₹ 992.55

87.39%

Diluted EPS (Rs)

₹ 6.00

₹ -6.90

 

₹ 3.70

 

OPM

23.85%

17.77%

 

17.54%

 

Net Margins

19.14%

-17.40%

 

11.65%

 


India sales at Sun Pharma were up 39% at Rs.3,384 crore. Among other markets, the US formulations grew at 35%, Emerging Markets at 25% and reset of the world at 35%. R&D investments at Rs.593 crore were 6.1% of sales. As part of the debt reduction program, Sun has cut $765 million of debt in the last 5 quarters with $185 million cut in Jun-21 quarter. Sun launched at total of 13 products in the Indian market during the quarter.

Also Check: Dr. Reddy Labs and Torrent Pharma - Quarterly Results

EBITDA was up 59% at Rs.2,772 crore was up 59% yoy. Taro posted sales of $147 million and net profits of $41 million, showing solid growth in top line and bottom line. The reason for the turnaround in net profits from loss last year was the lower exceptional losses for the Department of Justice order against Taro Pharma. In the Jun-21 quarter, Sun provided just Rs.631 crore against Rs.3,633 crore in the Jun-20 quarter. Net margins at 19.14% were higher 750 bps on sequential basis.

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