Sun Pharma back in black with Rs 1,984-cr profit in Q4; sales rise 6.6%

Sun Pharmaceutical Industries posted a net profit of Rs 1,984.5 crore for the fourth quarter of financial year 2022-23 (Q4 of FY23) against a loss of Rs 2,277.3 crore in the same quarter of the previous year. 

The corresponding quarter in the previous year was affected on account of settlement charges of pending litigation in the US and restructuring operations in some countries. 

The company’s Q4 of FY23 gross sales came in at Rs 10725.6 crore, up 14.3 per cent versus Q4 in the previous year. The India formulation sales are up 8.7 per cent year-on-year (YoY) (Rs 3,364 crore), while the US formulation sales were up 10.5 per cent YoY ($430 million).

The company reported an Ebitda of Rs 2,802 crore, up 19.7 per cent YoY, with a resulting Ebitda margin of 25.6 per cent for Q4 of FY23.

For the full year, sales were up 12.6 per cent to Rs 43,278.9 crore while net profit came in at Rs 8,473.6 crore compared to Rs 3,272.7 crore in FY22. Excluding exceptional items, the adjusted net profit for FY23 was Rs 8,645 crore, up 12.8 per cent over the same period in the previous year.

FY23 Ebitda stood at Rs 11,646.8 crore, up 12 per cent YoY, with a resulting Ebitda margin of 26.5 per cent. Excluding Covid-related product sales in the previous year, the India sales growth for FY23 was 10.2 per cent.