Sun Pharma clocks Rs 894 crore net profit in March quarter
May 27, 2021
Mumbai (Maharashtra) [India], May 27 : Sun Pharmaceutical Industries on Thursday posted 124 per cent increase in consolidated net profit at Rs 894 crore for the January to March quarter as compared to Rs 400 crore in the year-ago period.
Revenue from operations amounted to Rs 8,523 crore for Q4 FY21, up 4 per cent from Rs 8,185 crore in Q4 FY20.
The company said it incurred an exceptional loss of Rs 673 crore related to various litigation settlements pertaining to some of its subsidiaries.
Meanwhile, other income for the March quarter is at Rs 111 crore. At the operating level, earnings before interest, tax, deprecitation and amortisation (EBITDA) stood at Rs 2,048 crore, with margins of 24.3 per cent.
The company's board has recommended a final dividend of Rs 2 per share for the financial year ended March in addition to interim dividend of Rs 5.50 per equity share declared on January 29.
Sun Pharma spent Rs 557 crore on research and development in Q4 FY21 which was 6.6 per cent of the overall sales.
Managing Director Dilip Shanghvi said FY21 was a year marked by highly volatile business environment due to global Covid-19 pandemic and lockdowns in various countries.
"Despite these challenges, we have been able to maintain business continuity and record positive overall growth. While our India business continues to outperform the average industry growth, our global specialty sales have continued to show an improving trend."
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
Delivering products for customers and patients in over 100 countries, its global presence is supported by manufacturing facilities spread across six continents which are approved by multiple regulatory agencies.
