Sun Pharmaceutical Q4 net profit brings more than double Rs 894.15 crore

Major drug company Sun Pharmaceutical Industries on Thursday reported a double-fold increase in combined profit of $ 894.15 crore for the quarter ended March 2021, mainly due to strong performance in the Indian market.

The company had sent a total profit of Rs 399.84 crore over the corresponding period of the previous financial year, Sun Pharma said in a regulatory file.
Total aggregate revenue from operating stood at Rs 8,522.98 crore for the quarter under review. It was Rs 8,184.94 crore at the same time last year, he adds.

For the full financial year 2020-21, the company posted a total profit of Rs 2,903.82 crore compared to Rs 3,764.93 crore in the previous financial year.

The total company revenue from operating stood at Rs 33,498.14 crore for the financial year ended March 2021. It was Rs 32,837.50 crore for FY20, he added.
“FY21 was a year marked by a volatile business situation due to the global Covid-19 epidemic and the closure of various countries.

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“Apart from these challenges, I am pleased to see that we are able to maintain business continuity and record positive growth,” said Sun Pharmaceutical Industries MD Director Dilip Shanghvi.
While India’s corporate business continues to surpass normal sector growth, its exclusive sales worldwide have continued to show development trends. Global annual drug sales of Ilumya have grown by 51 percent to USD 143 million, he added.

“The company has repaid an estimated USD 580 million in FY21 compared to the debt since March 31, 2020,” Sun Pharma said.

India’s name-building sales for Q4 FY21 were Rs 2,670.9 crore, up 12.9 percent over the fourth quarter last year, accounting for 31.7 percent of total sales.

For the full year of FY21, sales increased by 6.5 percent to Rs 10,343.2 crore, he added.

“Sales in the United States were $ 370 million, a 1.3 percent decline over Q4 last year and a nearly 32 percent increase in total sales. For the full year of FY21, sales were USD 1,360 million recording a 8.5-year decline in growth,” Pharma.

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The company’s sales in emerging markets were USD 192 million in the fourth quarter, growing by 2.8 percent over Q4 last year. Total sales in emerging markets accounted for about 17 percent of total quarterly sales.

For the full year of FY21, sales were USD 780 million, flat over the same period last year, he adds.

“Rest of World (ROW) market name sales, excluding the United States and Marketing Emerging, were $ 163 million in Q4FY21, an increase of 5.5 percent over Q4 last year and 14 percent of total combined sales.

“For the full year of FY21, sales were USD 650 million, up 1.9% over the same period last year,” Sun Pharma said.

In the fourth quarter of the 2020-21 financial year, external API exports were Rs 435.7 crore, down 9.9 percent higher than Q4 last year. For FY21, API sales were Rs 1,950.4 crore, up 1.8 percent.

The combined R&D investment for the quarter under review was Rs 557.1 crore, or 6.6 percent of sales compared to Rs 536 crore (6.6 percent of sales) for Q4 last year.
For the full year of FY21, R&D costs were Rs 2,149.9 crore, or 6.5 percent of sales, Sun Pharma said.

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The board of the company has recommended that the final payment of Rs 2 per share of Re 1 per share for the year ended March 31, 2021, be added.

Shares of Sun Pharmaceutical Industries are locked at Rs 699.75 per cap on the BSE, down 0.55 percent from its previous close.

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