In Q3, the company registered a net profit of Rs 914 crores
Sun Pharmaceutical Industries reported financials for the third quarter and nine-month ending December 31, 2019, at the recently held board meeting in Mumbai. In Q3FY20, sales/income from operations was at Rs 8,039 crores, a growth of 5 per cent over the same quarter last year. India sales were at Rs 2,517 crores, a growth of 13 per cent over Q3 last year. The US finished dosage sales were at $350 million, a decline of 3 per cent over Q3 last year. The emerging markets sales were at $195 million, down by 4 per cent Q3 last year. The Rest of World sales was at $155 million, a growth of 24 per cent over Q3 last year. The R&D investments were at Rs 527 crores (6.6 per cent of sales) compared to Rs 465 crores (6 per cent of sales) for Q3FY19. The EBITDA was at Rs 1,725 crores, with a resulting EBITDA margin of 21.5 per cent. The net profit for the quarter was at Rs 914 crores, with a resulting net profit margin at 11.4 per cent.
In 9mFY20, the sales/income from operations was at Rs 24,247 crores, a growth of 12 per cent over the same period last year. India sales were at Rs 7,345 crores, up by 18 per cent over nine months last year. The US finished dosage sales were at $1,113 million, up by 3 per cent over nine months last year. The emerging markets sales were at $589 million, flat over nine months last year. The Rest of World sales was at $483 million, a growth of 42 per cent over nine months last year. The EBITDA was at Rs 5,221 crores up by 4 per cent over nine months last year, with a resulting EBITDA margin of 21.5 per cent. The net profit for 9mFY20 was at Rs 3,365 crores, with a resulting net profit margin at 13.9 per cent. Adjusted for the exceptional item of Rs 1,214 crores for nine months last year, the net profit growth was at 4 per cent.
Dilip Shanghvi, MD, Sun Pharmaceutical Industries said, “Our branded business in India is doing well and has recorded double-digit growth, for Q3 as well as for the nine-month period. For the international business, we continued our efforts to enhance our portfolio in new markets by entering into a licensing agreement with AstraZeneca in China for some of our novel oncology products. Simultaneously, we continue to enhance our global speciality business which is gradually becoming a meaningful growth engine.”
The Board of Directors has declared an interim dividend of Rs 3 per equity share of Re 1 each.