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Sun Pharmaceutical Industries Limited reported financials for the first quarter ending June 30th, 2023.
Highlights of Q1FY24 consolidated financials
- Gross sales at Rs. 117,852 million, growth of 10.7% vs Q1 last year
- India formulation sales at Rs. 35,604 million, up 5.1% vs Q1 last year
- US formulation sales at US$ 471 million, up 12% vs Q1 last year
- Global specialty sales at US$ 232 million, up 21% vs Q1 last year
- Global specialty sales accounted for 16.2% of Q1FY24 sales
- Emerging Markets formulation sales at US$ 261 million, up 6.5% vs Q1 last year.
- Rest of World formulation sales at US$ 195 million, up 2.6% vs Q1 last year
- R&D investments at Rs. 6,796 million compared to Rs. 4,608 million for Q1 last year
- EBITDA at Rs. 33,318 million, up 15.5% vs Q1 last year. EBITDA margin for Q1 at 27.9% vs 26.8% for Q1 last year.
- Adjusted net profit (excluding the exceptional items) for Q1FY24 was Rs. 23,454 million, up 13.8% over Q1 last year. Reported net profit for Q1FY24 was Rs. 20,225 million compared to net profit Rs. 20,609 mn for Q1 last year
Dilip Shanghvi, Managing Director of the Company said, “All our business continued to have growth this quarter and we are well positioned to meet our growth guidance for FY24. US has led the revenue growth in Q1 and Global Specialty has continued to increase as a share of our revenues. I am excited about the progress in our specialty pipeline and the potential for offering new treatments for patients in need.”
