Sun Pharma shares rise despite 36 per cent drop in quarterly profit
The drugmaker reported a consolidated net profit of ₹1,988.53 crore for the September quarter.
Sun Pharmaceutical Industries shares ended higher on the BSE on Friday, even as the company reported a 36.36 per cent year-on-year decline in consolidated net profit for the September quarter. According to Mint, the profit for the July-September period was ₹1,988.53 crore, down from ₹3,124.95 crore in the same quarter last year.
The company attributed the profit dip to exceptional expenses of approximately ₹1,269 crore. These costs included roughly ₹923 crore for a US generic-pricing antitrust litigation settlement and ₹346 crore related to the proposed acquisition of Organon.
Despite the lower profit, consolidated revenue from operations grew 11.9 per cent to ₹16,198.71 crore, up from ₹14,478.31 crore a year earlier. Managing Director Kirti Ganorkar said growth was driven by momentum in India, emerging markets, and other international markets.
In the domestic market, formulation sales rose 17.3 per cent to ₹5,552.3 crore, representing 34.5 per cent of total consolidated sales. Global innovative medicines sales also grew 6.9 per cent to about $356 million.
The company noted that the Organon acquisition is expected to be completed by early 2027. Additionally, the USFDA has approved the drug Ilumya for treating adults with active psoriatic arthritis.