Companies

Sun Pharma crosses $2 b revenue mark

Our Bureau Mumbai | Updated on May 28, 2013 Published on May 28, 2013

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Sun Pharma crossed the $2 billion mark in revenues, for the year ended March 31, 2013. “While it took us almost 27 years to record $1 billion in revenues, the next billion was added in just 3 years,” Sun Managing Director Dilip Shanghvi said in a statement.

All the company’s businesses performed in line with expectations, both during the fourth quarter and the year ended March 2013, he said. “We continue to focus on building a differentiated and specialty product portfolio and enhancing our international presence,” he added.

Annual performance

Total revenues stood at Rs 11,299 crore (Rs 8,019) for the year, while profits stood at Rs 3,008 crore (Rs 2,656 crore). The company had incorporated URL Pharma Inc in the US as its subsidiary in February 2013 and, as a result, the performance of this year and quarter could not be compared with the previous year’s, the company said.

Sun Pharma’s India branded generic drug sales were Rs 2,966 crore. Its US finished dosage medicine sales stood at $1,132 million, while international medicine sales stood at $281 million.

Q4 results

The company clocked a net profit of Rs 1,101 crore (Rs 820 crore) and total income of Rs 3,087 crore (Rs 2,336 crore) for Q4. Its board recommended a dividend of Rs 5 per equity share.

Sun shares closed down almost 2 percent at Rs 995 on the BSE on Tuesday.

Published on May 28, 2013
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