Sun Pharma beats estimates in Q3 as profit doubles to Rs 1,852.5 crore
The company announced an interim dividend of Rs 5.50 per share.
January 29, 2021 / 02:36 PM IST
Pharma major Sun Pharma on January 29 said its December quarter net profit doubled to Rs 1,852.5 crore.
The company reported a net profit of Rs 1,852.5 crore in Q3 FY21 against Rs 913.5 crore in the corresponding quarter a year ago.
The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore.
Revenue grew 8.4 percent YoY to Rs 8,837 crore against Rs 8,155 crore in Q3 FY20.
Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore.
EBITDA for the said quarter came at Rs 2,406.1 crore while the EBITDA margin stood at 27.2 percent.
Sun Pharma reported other income of Rs 315 crore for the quarter against Rs 120 crore for the last year's same period.
The company announced an interim dividend of Rs 5.50 per share. The board of directors has fixed February 10, 2021 as the record date for the purpose. The payment of the interim dividend would be made to the eligible shareholders on or before February 19, 2021.
The company has re-appointed and approved the remuneration of Kalyanasundaram Subramanian as the Whole-time Director of the Company for a further term of two years from February 14, 2021 to February 13, 2023.