In Q3, the net profit is at Rs 1,852 crores up 103 per cent YoY
Sun Pharmaceutical Industries has reported financials for the third quarter and nine months ending December 31, 2020.
In Q3FY21, the company posted consolidated sales from operations at Rs 8,782 crores, registering a growth of 9.2 per cent over Q3 last year. India sales are at Rs 2,753 crores, a growth of 9.4 per cent compared to Q3 last year. The US finished dosage sales are at $374 million, a growth of 7 per cent compared to Q3 last year. The emerging markets sales are at $204 million, up by 4.7 per cent over Q3 last year. The Rest of World sales are at $173 million, up by 11.7 per cent over Q3 last year. The R&D investments are at Rs 560 crores (6.4 per cent of sales) compared to Rs 527 crores (6.6 per cent of sales) for Q3FY20. The EBITDA is at Rs 2,351 crores, up by 36.3 per cent over Q3 last year, with a resulting EBITDA margin of 26.8 per cent. The net profit for Q3 is at Rs 1,852 crores, up 102.8 per cent over Q3 last year, with resulting net profit margin of 21.1 per cent.
In the nine months ending FY21, the consolidated sales from operations are at Rs 24,708 crores, up by 1.9 per cent over the same period last year.
India sales are at Rs 7,672 crores, up by 4.5 per cent over the nine months last year. The US finished dosage sales are at $991 million, a decline of 11 per cent over nine-month last year. The sales for nine months last year included a one-time contribution from the special business in the US and hence the numbers are not strictly comparable. The emerging markets sales are at $587 million, flat over nine-month last year. The Rest of World sales are at $486 million, flat over nine-month last year. The EBITDA is at Rs 6,176 crores up by 18.3 per cent over nine-month last year, with a resulting EBITDA margin of 25 per cent. Excluding the exceptional items, adjusted net profit for 9mFY21 was at Rs 4,589 crores, up 36.4 per cent YoY, with resulting net profit margin at 18.6 per cent. The reported net profit for 9mFY21 was at Rs 2,010 crores.
The Board has proposed an interim dividend of Rs 5.50 per share for the year FY21.
Dilip Shanghvi, MD, Sun Pharma said, “Our Q3 performance reflects continued profitable business growth in a market that is gradually recovering from the impact of the global pandemic. Most of our businesses have done well over Q3 last year. Our global speciality sales have continued to show an improving trend and have crossed pre-Covid levels. Global Ilumya sales for nine months ended Dec’20 have already crossed last full year’s sales.”
