Sun Pharmaceutical Industries has reported a net profit of ₹2,654 crore for the three months ended March 31, 2024, up 34 per cent as compared to ₹1,984 crore in the same period last year. It posted gross sales of ₹11,813 crore, up 10.1 per cent over the same period last year.

For the year ended March 31, 2024, the company reported a net profit of ₹9,576 crore and gross sales of ₹47,758 crore, up 10.4 percent over last year.

Dilip Shanghvi, Chairman and Managing Director of Sun Pharma, said, “During FY24, two of our businesses surpassed $1 billion in annual sales, namely global speciality and emerging markets. This achievement of critical mass in key markets is a testimony to several years of hard work put in by respective teams. We shall continue to build our speciality portfolio and invest further to gain scale across our businesses.”

The current year will be one of investment, in research, product launches in the United States and the global speciality business, Shanghvi told analysts.

For the full year FY24, sales of formulations in India stood at ₹14,889 crore, up 9.5 per cent over the same period last year. India formulations’ sales were ₹3,707 crore Q4FY24, up 10.2 per cent over Q4 last year and accounting for 31.4 per cent of total consolidated sales for the quarter, the company said.

The company’s formulation sales in the US (including from Taro Pharma ) for the full year FY24 were $1,854 million up 10.1 per cent over the same period last year. The US formulation sales were $476 million for Q4FY24, a growth of 10.9 per cent over Q4 last year and accounted for 33.5 per cent of total consolidated sales for the quarter, Sun said.

Giving details on the research pipeline, the company said, its speciality R&D pipeline comprised six molecules undergoing clinical studies.

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