Sun Pharma Q2 Results: Cons profit rises 6% YoY to Rs 2,385 crore, beats estimates
The bottomline was higher than an ETNow poll of Rs 2,298 crore, while the topline was largely on expected lines.
Operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), for the quarter, rose nearly 8% on year to Rs 3,179.30 crore, but operating margin contracted by 91 basis points to 26.08%.
Total expenses in the quarter rose to Rs 9,695 crore, from Rs 8,625 crore a year ago. Raw material costs, however, declined to Rs 1,665 crore, from Rs 2,017 crore a year ago.
Investments towards research and development were Rs 773 crore or 6.4% of sales in the quarter, compared to Rs 571 crore or 5.3% of sales in the same period last year.
The India formulation business revenue grew 11% on year to Rs 3,843 crore in the reported quarter.
