Sun Pharma Q2 net profit grows 28% to ₹3,040 crore

Sun Pharma Ltd. for the second-quarter ended September 30, reported a 28% growth in net profit year-on-year to ₹3,040 crore.

Gross sales for the quarter at ₹13,264 crore grew 10.5% YoY.

India formulation sales at ₹4,265 crore, grew 11% and U.S. formulation sales at $517 million increased 20.3%.

While Global Specialty sales at $286 million, increased by19.2%, emerging markets formulation sales at $293 million, grew 3.2%.

However, rest of world formulation sales at $199 million, was down 3.5%.

Dilip Shanghvi, Chairman and Managing Director said, “Sun has recently strengthened its specialty pipeline through an agreement with Philogen for commercializing late stage candidate Fibromun, upon approval. 

“With Fibromun, our product basket for dermatologists has expanded further. We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market,” he added.