Sun Pharmaceutical Industries posted a net profit of Rs 1,984.5 crore in the fourth quarter of FY2022-23 (FY23 Q4) against a loss of Rs 2,277.3 crore in the same quarter of the previous year .
The corresponding prior year quarter was affected by pending litigation settlement charges in the US and restructuring transactions in some countries.
The company’s FY23 fourth quarter gross sales came in at Rs 10725.6 crore, up 14.3% from the previous year’s fourth quarter. Formula sales in India rose 8.7% YoY (Rs 3,364 crore), while US formula sales rose 10.5% YoY ($430 million).
The company reported an Ebitda of Rs 2,802 crore, up 19.7% year-on-year, with a resulting Ebitda margin of 25.6% for the fourth quarter of FY23.
For the full year, sales rose 12.6% to Rs 43,278.9 crore, while net profit was Rs 8,473.6 crore compared to Rs 3,272.7 crore in FY22. Excluding one-off items, adjusted net profit for FY23 was Rs 8,645 crore, up 12.8% from the same period a year earlier.
FY23 Ebitda stood at Rs 11,646.8 crore, up 12% from the previous year, with a resulting Ebitda margin of 26.5%. Excluding sales of Covid-related products in the previous year, sales growth in India for FY23 was 10.2 per cent.
Sun Pharma posted a 6.6% increase in total India sales to Rs 13,603 crore. It enjoys an 8.3 per cent share of the Rs 1.8 trillion domestic pharmaceutical market.
First posted: May 26, 2023 | 21:22 IS