Sun Pharmaceutical Industries reported financials for first quarter ending June 30, 2014. The consolidated net sales/ income from operations during Q1 FY15 stood at Rs 3,927 crores, a growth of 13 per cent over same quarter last year. The branded generic sales in India at Rs 992 crores, up by 17 per cent over Q1 last year. The US finished dosage sales at $389 million grew by seven per cent (in $ terms) over Q1 last year. The international formulation sales outside US at $82 million, grew by two per cent (in $ terms) over Q1 last year.
Overall international revenues accounted for more than 75 per cent of total revenues for the quarter. The EBITDA at Rs 1,724 crores grew by 13 per cent; resulting EBITDA margin of 44 per cent, same as Q1 last year. The adjusted net profit at Rs 1,391 crores witnessed a growth of 12 per cent over Q1 last year; resulting margin of 35 per cent.
The reported net profit at Rs 1,391 crores, compared to net loss of Rs 1,276 in Q1 last year. The loss in Q1 last year was on account of a provision of Rs 2,517 crores towards settlement for patent infringement litigation related to generic versions of ‘Protonix’.
Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said, “Our Q1 performance was in-line with our expectations. While we are intensively planning for the integration with Ranbaxy, we remain focused on strengthening our existing businesses and developing a differentiated and speciality-driven product basket. We also continue to review opportunities to expand and strengthen our global footprint.”
EP News Bureau – Mumbai
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