Drug major Sun Pharmaceutical Industries is expected to report strong earnings in January-March quarter with profit surging 112.6 percent to Rs 1,888.4 crore, according to average of estimates of analysts polled by CNBC-TV18. Earnings will be announced on May 30.
Revenue is seen rising 29 percent year-on-year to Rs 7,925.3 crore in Q4, driven by Gleevec generic drug (anti-cancer) sales that may be around USD 150 million during the quarter.
Sun Pharma launched Gleevec generic on February 1, 2016 with 180-day exclusivity and it has already captured around 40-50 percent market share.
Domestic business is likely to grow 14-15 percent YoY and Rest of the World market may register around 3-4 percent growth. API business is seen rising 20 percent YoY due to consolidation of GSK Opiates business.
Remediation costs on Halol, Ranbaxy, higher employee costs and R&D expenses could weigh on earnings.
Operating profit (EBITDA - earnings before interest, tax, depreciation and amortisation) may grow by 217.7 percent Rs 2,835 crore and margin may expand by 2130 basis points to 35.8 percent compared to year-ago period.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
