Sun Pharmaceutical Industries – specialty pharmaceutical company manufacturing and marketing pharmaceutical formulations as branded generics, as well as generics in the US, India and several other markets.
Beating the street estimates, Dilip Sanghvi led Sun Pharma reported blockbuster financials for Q2. Revenue stood at Rs. 8,265.12 crore against Rs. 6,872.39 crore – a jump of 20.25%.
Net Profit almost doubled at 94.83% from Rs. 1276.94 crore to Rs. 2487.89 crore. This doubled the EPS at Rs. 9.3 from Rs. 4.3.
While bulk of the revenue was contributed by the US Formulations business at Rs. 3,714 crore, a 25% growth was witnessed in Emerging Markets business from Rs. 908.9 crore to Rs. 1,141.1 crore.
R&D Expenditure jumped marginally at 14.46% from Rs. 498.05 crore to Rs. 570.07 crore.
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.