Sun Pharma reports 49 per cent jump in net profit at Rs 1,242 crore during Q3
Mumbai: Sun Pharmaceutical Industries has registered gross sales of Rs 7,657 crore in the quarter ending December 2018, marking 16 per cent growth over the same quarter of the previous year. Of this, India sales were Rs 2,235 crore, up 7 per cent in the third quarter of fiscal 2017-18. The net profit in Q3 of 2018-19 was Rs 1,242 crore, marking a phenomenal growth of 49 per cent. In Q3 of the previous year, the profit was adversely impacted by one-time deferred tax adjustment of Rs 513 crore related to changes in US tax rates.
The EBITDA (earnings before interest, tax, depreciation and amortisation) from October to December 2018 stood at Rs 2,069 crore, up 48 per cent. The margins were partly driven by forex gains, the company informed stock exchanges on Tuesday.
“We remain committed towards executing our global speciality strategy, strengthening core operations and enhancing overall efficiencies,” said Managing Director of Sun Pharma.
The company’s research and development investments during Q3 of FY 19 were Rs 465 crore, or 6.1 per cent of sales, compared to Rs 473 crore, or 7.2 per cent of sales, in Q3 of FY 18.
Sun Pharma is the world’s fifth largest speciality generic pharmaceutical company and India’s top pharmaceutical company. It has 42 manufacturing facilities across six continents.
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