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Sun Pharmaceutical Industries reported a decline of 20 per cent in net profit at Rs. 2,278.63 crore during the first quarter of the current fiscal year, as compared to Rs. 2,835.62 crore during the same quarter of previous year on a consolidated basis.
The total revenue from operations grew 9.5 per cent during the quarter at Rs. 13,851.4 crore as against Rs. 12,652.75 crore reported during the same period of last fiscal year.
The company said that its India formulation sales grew 13.9 per cent to Rs. 4721.2 crore, while US formulation sales grew 1.4 per cent to $473 million during the period. India formulation sales accounted for 34.2 per cent of total consolidated sales for the quarter. The US formulation sales accounted for 29.3 per cent of total consolidated sales.
Global innovative medicines business, which was earlier speciality business, has reported 16.9 per cent growth to $311 million, accounting to around 19.3 per cent of the total sales during the quarter. Emerging markets formulation sales grew 5.1 per cent to $298 million, while the Rest of the World (RoW) formulation sales grew 15.5 per cent to $219 million, said the company. Emerging market formulations sales accounted for 18.5 per cent of total consolidated sales, while the RoW formulation sales accounted for 13.6 per cent of total sales.
R&D investments during the quarter was at Rs. 902.9 crore, which is 6.5 per cent of the sales, as compared to Rs. 794 crore for the same period of previous fiscal year.
EBITDA grew 19.2 per cent to Rs. 4,301.7 crore during the quarter, including other operating revenues, and the EBITDA margin stood at 31.1 per cent, it added.
Dilip Shanghvi, chairman and managing director of the company, said, "Sun had a strong performance during the quarter, where the overall growth reflects steady progress across all our markets. India continues to show strong momentum, contributing meaningfully to our performance."
The US launch of Leqselvi (deuruxolitinib) represents an important step forward, offering a new treatment option for patients with severe alopecia areata. The product augments the company's portfolio in dermatology and adds a growth engine to its innovative medicines business, he added.
For Q1FY26, external sales of API were at Rs. 540.4 crore, up by 9.3 per cent. The company said that its API portfolio supports its formulation business and API customers across geographies.
Its innovative R&D pipeline includes six novel entities in clinical stage, including Unloxyt for metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC, Ilumya for psoriatic arthritis, Fibromun for soft tissue sarcoma and glioblastoma, GL0034 for type 2 diabetes, Nidlegy for melanoma and non-melanoma skin cancers, and MM-II for pain in osteoarthritis.
Sun has a comprehensive product offering in the US market consisting of approved ANDAs for 542 products while filings for 119 ANDAs await US FDA approval, including 33 tentative approvals. Additionally, the portfolio includes 57 approved NDAs while 13 NDAs await US FDA approval. For the quarter, two ANDA were filed and one ANDA approval was received, it added.
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