Sun Pharma Q1 2014 revenues rises 31 per cent on strong US performance

Business

oi-Sunil

By Sunil Fernandes

Published: Saturday, August 10, 2013, 10:06 [IST]

Sun Pharma has reported a solid set of results with revenues at Rs. 3482 crores, a growth of 31% over same quarter last year.

Adjusted for the impact of one-time sales recorded in the domestic business in Q4FY12, which lowered Q1FY13 sales,
the net sales have grown by 23% over Q1FY13.

The branded generic sales in India, at Rs. 849 crores, grew by 44% over Q1 last year. Adjusted sales growth of
the domestic formulation business, as explained above, is 11%.

On the other hand the US finished dosages sale was at US$ 364 million recording a growth of 28% (in US$ terms) over Q1 last year.

"International formulation sales is US$ 81 million, and grew by 19% (in US$ terms) over same quarter last
year. EBITDA at Rs. 1531 crores grew by 26% YoY while EBITDA margins were at 44%, compared to 46% in Q1
last year," the company has said in a release.

The company has reported net loss at Rs. 1276 crores, on account of a provision of Rs 2517 crores towards settlement for patent infringement litigation related to generic versions of ‘Protonix'.

Dilip Shanghvi, Managing Director of the Company said, "All our businesses continue to perform in-line with our
expectations. We remain focused on strengthening our existing businesses and developing a differentiated and
specialty driven product basket. We also continue to review opportunities to expand and strengthen our global
footprint."

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