Sun Pharma posts Q2 profit at Rs 1,065 cr; revenue, EBITDA surpass analyst estimates

SUNPHARMA

Healthcare major Sun Pharmaceutical Industries on November 7 reported consolidated profit at Rs 1,065 crore during the July-September period, against loss of Rs 269.6 crore in the same period last fiscal.

The company had reported one-time loss of Rs 1,214.4 crore in Q2FY19 with respect to Modafinil antitrust litigation.

Consolidated revenue during the quarter grew by 17.1 percent year-on-year to Rs 8,123.3 crore, backed by India and Rest of World sales.

India sales increased 35 percent to Rs 2,515 crore and Rest Of World sales jumped 49 percent to $161 million compared to the year-ago.

Emerging market sales during the quarter rose 3 percent to $201 million YoY, but US sales remained unchanged at $339 million YoY.

At the operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 16.9 percent to Rs 1,790 crore in Q2FY20 while margin remained flat at 22 percent YoY.

Other income during the quarter fell 42.8 percent year-on-year to Rs 200.8 crore, which impacted bottomline of the company.

According to a poll of analysts conducted by CNBC-TV18, revenue was expected at Rs 8,022.67 crore and EBITDA at Rs 1,690.5 crore with margin at 21.1 percent for the quarter.

The stock gained more than 15 percent in last one month. It was quoting at Rs 439.85, up Rs 12.30, or 2.88 percent on the BSE at 1458 hours IST.

News Source:- Moneycontrol

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