Companies

Sun Pharma posts ₹1,444-cr Q1 net

Our Bureau Mumbai | Updated on July 30, 2021

Sales from operations stood at ₹9,669 crore, a growth of 29%

Drugmaker Sun Pharma posted a net profit of ₹1,444.17 crore for the three months ended June 30. It had posted a net loss of ₹1655 crore in the corresponding period in the previous year.

The company’s sales from operations stood at ₹9,669 crore, a growth of 29 per cent over the same quarter last year.

Dilip Shanghvi, Managing Director, said the strong first quarter performance was driven by a combination of robust core business growth, low base and some sale of Covid products. “We are enthused by the all-round growth across all our businesses compared to Q4 (fourth quarter) last year. Our India business continues to do well while our global specialty revenues have grown over Q4,” he said.

“We continue to focus on growing our overall business and simultaneously strengthening our global specialty portfolio. The recent in-licensing of Winlevi for US and Canada is a step forward in this direction,” he added.

The company also said that it had repaid debt of about $185 million in the said quarter. Over the last five quarters, the company has repaid debt of about $765 million, it said. Sun Pharma stock closed up 10 per cent on the BSE at ₹774 on Friday.

Published on July 30, 2021

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