Sun Pharma posts Rs 7,683 crs sales in Q3FY17

In Q3FY17, sales/ income from operations were reported at Rs 7,683 crores, registering a growth of eight over same quarter last year. India sales was at Rs 1,969 crores, up by five per cent over Q3 last year. The US finished dosage sales was at $507 million up by four per cent over Q3 last year and emerging markets sales at $172 million up by 14 per cent over Q3 last year. The rest of world sales was at $113 million, showing a growth of 33 per cent over Q3 last year. R&D investments was at Rs 613 crores (eight per cent of sales) compared to Rs 583 crores (8.2 per cent of sales) for Q3FY16. EBITDA was at Rs 2,224 crores, resulting EBITDA margin of 29 per cent. Net profit was at Rs 1,472 crores down five per cent over Q3 last year, resulting Net profit margin of 19 per cent.

In the quarter ending 9m FY17, sales/ income from operations was at Rs 23,439 crores, a growth of 14 per cent over same period last year. India sales was at Rs 5,833 crores, up by eight per cent over nine months last year. The US finished dosage sales was at $1,670 million up by 13 per cent over nine months last year. The emerging markets sales was at $494 million up by 17 per cent over nine months last year and the rest of world sales was at $276 million, up by 10 per cent over same period last year. EBITDA was at Rs 7,575 crores, resulting EBITDA margin of 32 per cent. Net profit for the 9m FY17 was at Rs 5,741 crores, resulting net profit margin of 24 per cent. Net profit grew by 83 per cent over nine months last year. Net profit for 9m FY16 was adversely impacted by one-time items as well as exceptional charges of Rs. 685 crores.

Dilip Shanghvi, MS, Sun Pharma said, "While we continue to focus on growing our existing business, we are happy to invest our strong cash flows in enhancing our speciality pipeline, though currently without commensurate revenue streams. During the quarter, we commercialised BromSite, our first speciality ophthalmology product in the US. Post the close of the quarter, Ocular Technologies, a company which we had recently acquired, announced positive results for Seciera Phase-3 trials demonstrating a rapid onset of action at 12 weeks of treatment for dry eye disease. We also made an announcement for acquiring Odomzo, a branded oncology product indicated for the treatment of adult patients with locally advanced basal cell carcinoma, a type of skin cancer. Odomzo is approved in 30 markets including the US, Europe and Australia."