INSUBCONTINENT EXCLUSIVE:
Drug major Sun Pharmaceutical on Tuesday reported better-than-expected financial results for the quarter ended December 2018
Consolidated net profit jumped 286 per cent to Rs 1,242 crore from a year ago
The company announced its financial results after market hours
Earlier in the day, the stock settled 2 per cent higher at Rs 436.75 while the BSE Sensex settled lower by 241 points, or 0.66 per cent, at
1,242 crore in Q3 FY19, with resulting net profit margin at 16.2 per cent
It had posted a net profit of Rs 321.57 crore in the corresponding quarter last year
An earlier poll by ETNow projected net profit of Rs 981 crore during the quarter under review
The year-ago numbers were impacted by Rs 513.02 crore exceptional taxes on account of re-measurement of the group's deferred tax assets
as a result of the Tax Cut and Jobs Act enacted in the US on October 22, 2017.
Top line: Sales increased 16.04 per cent YoY to Rs 7,656.71
crore in the three months to December over Rs 6,598.21 crore a year ago
While India sales grew 7 per cent to Rs 2,235 crore, US finished dosage sales at $362 million were up by 10 per cent over Q3 last year
Emerging markets sales read $203 million, a growth of 7% over Q3 last year
Rest of World sales, at $125 million, translated into a growth of 4 per cent
We remain committed towards executing our global specialty strategy, strengthening our core operations and enhancing our overall
The Ilumya launch in US has been well received by doctors
We recently commercialised Xelpros in the US and are preparing to launch Cequa in the coming months," said Dilip Shanghvi, Managing Director
Ebitda and margins: Ebitda came in at Rs 2,151 crore in October-December against an ETNow analyst poll estimate of Rs 1,615 crore
Margins stood at 28 per cent during the quarter under review
ETNow projected Ebitda margin at 21.80 per cent
Margins were partly driven by forex gains
Expenses: Total expenses increased to Rs 6,203.14 crore in the period under review, from Rs 5,634.50 crore in the same period last year.
