Sun Pharma Q1 Net Profit Surges 40.2% to Rs 2,835.62 cr

New Delhi, Aug 1 (PTI) Sun Pharmaceutical Industries Ltd on Thursday reported a 40.2 per cent jump in consolidated net profit to Rs 2,835.62 crore for the first quarter ended June 30, riding on strong India formulation and global specialty sales growth.

The company had posted a consolidated net profit of Rs 2,022.54 crore in the same quarter last fiscal, Sun Pharmaceutical Industries said in a regulatory filing.

Its consolidated total revenue from operations was Rs 12,652.75 crore against Rs 11,940.84 crore in the year-ago period.

India formulation sales in the first quarter increased 16.4 per cent to Rs 4,144.5 crore. It accounted for about 33.1 per cent of total consolidated sales.

On the other hand, US formulation sales stood at USD 466 million, lower by 1 per cent. It accounted for 31.1 per cent of total consolidated sales, the company said.

Sun Pharma said its global specialty sales in the quarter rose 14.7 per cent to USD 266 million, constituting 17.7 per cent of the total Q1 FY25 sales.

The company further said emerging markets formulation sales grew 8.8 per cent to USD 284 million, while that of the rest of the world slipped 2.9 per cent to USD 190 million.

Sun Pharma Chairman and Managing Director Dilip Shanghvi said the company recently attained several milestones with the approval of 'Leqselvi' in the US, the filing of 'Nidlegy' in Europe and the completion of the acquisition of Taro minority shares.

"These steps advance our innovative as well as generic business offerings, and will help us serve patients better," he added.