Sun Pharmaceutical Industries on November 1 reported a 8.2 percent year-on-year rise in consolidated net profit to Rs 2,260 crore for the quarter ended September, higher than analysts' estimate of Rs 1,968.4 crore.
The drugmaker reported 13.8 percent growth in consolidated revenue from operations to Rs 10,952.3 crore for the quarter, in line with analysts' estimate.
During the quarter, the company booked foreign exchange related losses of Rs 240 crore as against Rs 76 crore in the year-ago quarter, the company said.
The growth in the topline of the company was led by a strong performance in the US formulations business which grew 14.1 percent on a year-on-year basis to $412 million.
The Indian formulations business also saw firm growth of 8.5 percent on-year to Rs 3,460 crore aided by a low base in the year-ago quarter.
Besides the US and India, the emerging market business drew sales of $259 million, up 6.7 percent from the year-ago quarter.
Overall, Sun Pharmaceutical's consolidated operating profit in the reported quarter rose 12.4 percent on-year to Rs 2,957 crore, which was sharply higher than Street's expectation of Rs 2,719.9 crore.
The drugmaker reported a consolidated operating margin of 27 percent as against 27.3 percent in the year-ago but beat analysts' expectations of 25 percent.
On November 1, shares of the company ended 2.1 percent higher at Rs 1,036.6 on the National Stock Exchange.
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