23-May-2024
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India’s leading pharmaceutical company, Sun Pharma, released its fourth-quarter earnings on Wednesday, May 22, 2024. It reported a net profit of Rs 2,654 crore, compared to Rs 1,984 crore in the same quarter last year. Net profit jumped 34% year over year.
Sun pharma reported revenue from operations at Rs 11,983 crore in the fourth quarter. In the same period last year, the revenue was Rs 10,931 crore. The company’s revenue increased by 10% on a year-on-year basis.
It reports an EBITDA of Rs 2,985 crore while margins stood at 25% in the same period. The India formulation sales were Rs 3,707 crore in Q4, showing a growth of 10% over last year and accounted for 31.4% of total consolidated sales for the quarter. For the full the financial year 2024, formulation sales in India rose 9% YoY basis.
The company’s board member has approved a final dividend of Rs 5 per share and the same will be paid within the given timeline.
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Sun Pharma’s US Formulation Sales Data
US Formulations sales stood at $476 million in Q4 FY24 showing a growth of 10.9% over Q4 FY23. It accounted for 33.5% of total consolidated sales for the quarter. For the full year, formulation sales in the US were at Rs $1,854 million up by 10.1% over the same period last year.
Sun Pharma Group – Taro Sales Data
Taro reported Q4 sales of $165 million, up 12% year over year. Excluding the impact of GTN adjustments, sales growth was high single digits. The segment's net profit was $15.1 million.
Emerging market sales during the quarter increased 11% year over year to $245 million, accounting for 17.2% of consolidated sales.
Currently, Sun pharma share price down by -3.36% and trading at Rs 1,487 per share. Despite reporting good results, stock price declines showcase investors' concern.
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