Q4 results: Sun Pharma beats profit estimates, declares dividend of ₹5 per share

livemint.com:

Hyderabad: Indian drugmaker Sun Pharmaceutical Industries posted fourth-quarter profit above estimates on Wednesday, helped by strong performance in its key U.S. and domestic markets. The company reported a consolidated net profit of ₹2,655 crore ($318.9 million) for the quarter ended March 31, compared to analysts' average estimate of ₹2,368 crore as per LSEG data.

ALSO READ: Sun Pharma: 2 key reasons why HSBC expects 16% upside despite regulatory woes In the year-ago period, the company's profit stood at ₹1,984 crore, which included a one-time charge of ₹171 crore related to the acquisition of Concert Pharma and other costs. Total revenue from operations rose 9.6% to ₹11,983 crore, but missed analysts estimate of ₹12,222 crore. Sun Pharma's U.S.

sales rose nearly 11.9% to ₹3,954 crore, boosted by speciality complex drugs such as Ilumya used to treat chronic skin condition such as plaque psoriasis. India sales rose more than 10.2% to ₹3,710 crore. Global speciality sales, which accounted for 19.1% of total sales, rose 11.1% to $271 million, the company said in a press release.

ALSO READ: Sun, Dr Reddy's, Aurobindo, Lupin, Zydus lead Indian Pharma's US show in Q3 Sun Pharma, which makes active pharmaceutical ingredients, generic and speciality medications, is also working on its own version of popular weight-loss drugs by Novo Nordisk and Eli Lilly which have seen skyrocketing demand. Its shares closed 0.11% lower after the results. Sun Pharma, India's largest drugmaker by revenue, said its board has proposed a dividend of ₹5 per share for fiscal year 2024, which is in addition to the interim dividend of ₹8.5 per share declared in January.