Sun Pharma Quarterly Results: Check Interim Dividend, Q3 FY23 PAT & Other Financial Details
February 2023: Sun Pharma, leading pharmaceutical company in India, on Tuesday announced financial results for the third quarter of fiscal year 23 (Q3FY23).
The board of directors of the company also declared an interim dividend of Rs. 7.50 per share, up from Rs.7 per share announced last year. An increase of 0.5.
The record date for Sun Pharma dividend 2023 is yet to be announced. The pharmaceutical major on Tuesday reported a 5% year-on-year (YoY) rise in consolidated net profit for the third quarter (Q3) of fiscal 2023 (FY23) to Rs. 2,166 crores, compared to the same period last year by Rs. 2,058.8 crores.
Income from operations during this quarter was Rs. 11,241 crore, compared to Rs. 9,863 crores is 14% higher as compared to Rs.
Sun Pharma Managing Director Dilip Shanghvi said the company’s specialty business is expected to continue to grow and the proposed acquisition of Concert will further strengthen the company’s position in the dermatology market.
In India, Sun Pharma reported a 7.1% rise in formulation sales in Q3FY23, at Rs. 3,391.90 crores was reached.
In the first nine months of the financial year, sales stood at Rs. 102,39 crore, which represents a growth of 6% over the same period last year. Sun Pharma currently holds 8.5% market share in the Indian pharmaceutical market, ranking as number one.
In the US, Sun Pharma reported a 6.3% rise in formulation sales in Q3FY23, reaching USD 42.2 crore. In the first nine months of the fiscal year, sales reached USD 1,254 million, representing a growth of 10.3% compared to the same period last year.
Taro, a subsidiary of Sun Pharma, posted sales of US$ 139 million in Q3FY23, with a net profit of US$ 7.3 million.
Sun Pharma reported strong growth in emerging markets with formulation sales growing by 7.7% in FY23 Q3, reaching US$ 257 million.
In the first nine months of the fiscal year, sales reached US$ 762 million, representing a growth of 8.9% compared to the same period last year. In rest of the world markets, formulation sales reached US$ 189 million in FY23 Q3, up 4.8% compared to the same period last year.
For Q3FY23, API’s external sales stood at Rs 515.40 crore, up 9.4% from Q3 last year. API sales for the first nine months were Rs. 15,871 million, an increase of about 11.6% over the same period last year.
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