Sun Pharma Q3 results: Net profit up 15% YoY to ₹2,903.4 crore, revenue up 10% | Stock Market News
Sun Pharma announced a 15 per cent year-on-year (YoY) increase, reaching ₹2,903 crore for the quarter ending December 2024. The company also recorded an exceptional item of ₹316 crore during this period.
Additionally, the company declared an interim dividend of ₹10.5 per share for the financial year 2024-25.
The profit exceeded the Street’s estimate of ₹2,847 crore.
The record date for the proposed interim dividend is set for February 6, with payments to be made on or before February 20. Revenue from operations for the reported quarter increased by 10 per cent year-on-year, reaching ₹13,675 crore.
“Our performance in the quarter showed all-round improvement. Product sales in Global Specialty crossed 1/5th of overall sales. Our market share gain in India has been driven by industry-leading volume growth,” said Dilip Shanghvi, Chairman and MD, Sun Pharma.
For the India formulation business, sales increased by 14 per cent year-on-year to ₹4,300 crore in Q3FY25, making up approximately 32 per cent of the total consolidated sales.
Sun Pharma’s market share
Sun Pharma holds the top position in the Indian pharmaceutical market, with its market share rising from 7.8 per cent to 8.2 per cent, according to the AIOCD AWACS MAT December 2024 report, for the over ₹2.21 lakh crore market.
In the US, formulation sales saw a slight decline, totaling $474 million for Q3FY25. Meanwhile, sales in emerging markets grew by 10 per cent year-on-year to $277 million, and in the rest of the world (ROW) markets, sales surged by 21 per cent year-on-year to $259 million for the same period.
‘Emerging Markets demonstrated strong performance in spite of currency challenges across geographies. All our businesses remain well positioned for future,” Sanghvi said.
External API sales grew by 22 per cent year-on-year in the third quarter. For the first nine months, API sales totaled ₹1,596 crore. The company’s API portfolio serves both its formulation business and API customers worldwide.
Consolidated R&D spending for the quarter was ₹845 crore, accounting for 6.3 per cent of sales.
