How did you find the results of Sun Pharm for the June 2022 quarter?

Sun Pharma posted 43% higher net profits for the June 2022 quarter at Rs2,061 crore. This in contrast to the March 2022 quarter, when the company had reporte da huge net loss of Rs2,277 crore, due to execptional write-offs. For the June 2022 quarter, the total revenues were up 9.7% at Rs10,762 crores. This was higher on a yoy basis and on a sequential basis. Sun Pharma also reported EBITDA of Rs2,884 crore while the EBITDA margin for the quarter came in at 26.8%; lower than the 28.7% recorded by Sun Pharma in the year ago period.

The company saw good growth in Q1 across businesses with the scale-up of its specialty business. In fact, the Specialty business grew 29% on a yoy basis. The India business of Sun Pharma has grown faster than the market average. Currently, the India formulation sales account for 32% of total consolidated sales at Rs3,387 crore. That has shown a growth of 13% on a yoy basis, excluding the COVID products. On the other hand, the US sales grew by a healthy 10.7% at $420 million and accounted for over 30% of total revenues of Sun.

There were other strong franchises too for Sun Pharma. The Emerging Markets formulation sales grew by 12.6% yoy at $245 million and accounted for 18% of the total revenues of the company. Similarly, the formulations business in the rest of world, grew a more tepid 2.6% to $190 million.