Sun Pharma Q4: Consolidated net profit at Rs 1,984 crore, revenue up 15%

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Sun Pharmaceuticals Ltd., on Friday, reported consolidated net profit after tax (PAT) of Rs.1,984 crore for the March quarter. The company statement said that the company reported a loss of Rs 2,277 crore a year ago.

The company’s consolidated revenue from operating increased by 15.7 per cent to Rs. 10,931 crore for the March quarter as compared to Rs. 9,447 crore in the previous year.

In a regulatory filing, the company said, “The Board of Directors has recommended a final dividend of Rs 4 per equity share of Re 1 per company, subject to the approval of the shareholders at the next 31st Annual Meeting, which shall be paid within the timetables as required by the Act companies of the year 2013.”

“I am pleased with the overall growth demonstrated by the company in FY23. Several of our businesses including Specialty, India and Emerging Markets have continued to progress well. Our Specialty business remains on a growth trajectory and we are committed to continuing to expand its scope.”

“Acquiring Concert helps strengthen our portfolio in dermatology. I believe deuruxolitinib can become a leading product to address a largely unmet need in patients with alopecia areata.”

Fixture sales in the United States for the full fiscal ’23 year were $1,684 million, up 10.3 percent over the same period last year. US pharmaceutical sales were $430 million for the fourth quarter of fiscal ’23, up 10.5 percent from the fourth quarter of last year and accounted for about 33 percent of total consolidated sales for the quarter, the company said in a BSE filing.

Taro’s sales for the full fiscal year ’23 were $573 million, up about 2.1 percent from the same period last year. Taro’s net profit for fiscal year 23 was $25.4 million, compared to $58.3 million. Taro recorded sales of $147 million in the fourth quarter of fiscal 2013, up 2.3 percent year-over-year and net profit of about $6.9 million, down 74.7 percent from the adjusted net profit for the fourth quarter of last year.