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Sun Pharma Reports Q2 Profit At Rs 1,064 Crore
On Thursday, Sun Pharmaceuticals Ltd reported a consolidated profit of Rs 1,064.09 crore for the September-ended quarter. In the same period of the previous year, the drugmaker reported a loss of Rs 269.60 crore.
The company's net sales for the second quarter of the financial year 2019-20 was 16.1 percent higher at Rs 7,949.19 crore from Rs 6,846.48 crore a year ago. Sales in India saw a 35 percent year-on-year growth to Rs 2,515 crore.
EBITDA (earnings before interest, tax, depreciation and amortization) for the quarter under review was up by 12 percent over the last year to Rs 1,616 crore, with resulting EBITDA margin of 20.3 percent.
R&D investment for the September quarter were at Rs 488 crore (6.1 percent of sales) as against Rs 452 crore (6.6 percent of sales) in the same period of the previous year.
Sun Pharma's managing director Dilip Shanghvi said, "Our Q2 and H1 performance demonstrates sustained growth momentum and is in-line with our full-year guidance. We continue to focus on cost savings and efficiency improvement to align our generic business with the changing industry dynamics."
Shares of the company rose 3.5 percent to Rs 444 on NSE post the results announcement.
