Sun Pharma shares ended 10 per cent greater at Rs 774.
Shares of the country's leading drug maker - Sun Pharma - surged as much as 11 per cent to strike fresh 52-week high of Rs 780.10 on the BSE after the company returned to profit in quarter ended June 2021.
The Mumbai-based business reported net earnings of Rs 1,444.1 crore compared to a loss of Rs 1,655.6 crore in the matching duration a year earlier.
Its revenue from operations advanced 28 per cent to Rs 9,718.74 crore versus Rs 7,585.25 crore in the exact same duration last year.Sun Pharma's earnings prior to interest, tax, depreciation and amortisation (EBITDA) or operating revenue advanced 59 per cent each year to Rs 2,771.8 crore resulting in operating earnings margin of 28.7 per cent.During the quarter, Sun Pharma paid back financial obligation of about $185 million and over the last five quarters, the company has paid back debt of about $765 million, Sun Pharma stated in a press release.
We witnessed a strong Q1, driven by a mix of robust core business growth, low base and some sale of Covid products.
We are excited by the all-round development throughout all our companies compared to Q4 in 2015.
Our India business continues to do well while our worldwide specialty revenues have actually grown over Q4.
We are happy with Ilumya's performance which has actually grown both YoY and sequentially.
We continue to focus on growing our general company and simultaneously enhancing our global specialty portfolio.
The current in-licensing of Winlevi for US and Canada is a step forward in this direction, Dilip Shanghvi, Managing Director of the business said in a statement.Sun Pharma's sales in United States rose 35 percent yearly to $380 million, accounting for 29 percent of total consolidated sales and its sales in India rose 39 percent to Rs 3,308 crore, accounting for 34 percent of total sales,, Sun Pharma said.Its consolidated research and development (R&D) investment in first quarter of current financial year was Rs 592.6 crore as against Rs 420.6 crore in the June quarter last year.Sun Pharma shares ended 10 percent higher at Rs 774, surpassing the Sensex which ended on a flat note.