Sun Pharma reports Q1FY20 results
The net profit witnessed a hike of 31 per cent at Rs 1387 crores
Sun Pharmaceutical Industries has announced its Q1FY20 results, reporting a surge of 16 per sent in its gross sales which stood at Rs.8,259 crores. The net profit also witnessed a hike of 31 per cent at Rs 1387 crores.
According to a press release issued by the company, its sales/income from operations stood at Rs 8,259 crores, a growth of 16 per cent over same quarter last year. Also, emerging markets sales at US$ 194 million, flat over Q1 last year. Total sales in India amounted at Rs. 2,314 crores, growth of 8 per cent over Q1 last year.
Dilip Shanghvi, Managing Director of the Company said, “We have recorded growth across most of the markets for the quarter and our performance is in-line with our full-year guidance. We are consistently focusing on improving our efficiencies and cost structure to ensure reasonable returns for our generics business. At the same time, we continue our unwavering efforts on building the specialty business and are encouraged by the potential of one of our pre-clinical research molecules which is likely to enter clinical trials next year. The recent out-licensing of Tildrakizumab and Cequa for Greater China market and the regulatory filing of Tildrakizumab in Japan reflects our global aspirations for the specialty business. Ilumya/Ilumetri is gradually gaining traction in the US and Western Europe.”