Sun Pharma Q1 net profit up at Rs 227.2 crore

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Sun Pharma Q1 net profit up at Rs 227.2 crore

Sun Pharma announced its Q1FY08 result. Its Q1 consolidated net profit was up at Rs 227.20 versus Rs 176.73 crore on YoY basis. During the corresponding quarters, its net sales were up at Rs 627.50 crore versus Rs 511.64 crore, YoY.

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Sun Pharma announced its Q1FY08 result. Its Q1 consolidated net profit was up at Rs 227.20 versus Rs 176.73 crore on YoY basis. During the corresponding quarters, its net sales were up at Rs 627.50 crore versus Rs 511.64 crore, YoY.

The company's Q1 standalone net profit was at Rs 226 crore versus Rs 148 crore on YoY basis. 

R&D expenditure was 9.9% of sales at Rs 60.8 crore (costs of innovative R&D have been booked in the new company)

Highlights

• Domestic formulation constitutes 56% of sales ; growth of 26%
• 9 key products were launched in domestic market
• Now holds 3.3% of market share in domestic market
• US generics up 43%
• US subsidiary Caraco's net income up 70% (USD 8.5mn )

Other highlights

• To raise upto Rs 3500 crore through GDRs, FCCB, Bonds, Debentures etc for acquisitions
• Taro shareholders meeting for approval of acquisition postponed to Sept 25th

According to CNBC-TV18 estimates, the company was expected to post net sales of Rs 601.78 crore and net profit at Rs 218.76 crore.