Sun Pharmaceutical Industries Limited, India's largest drug maker, has earned a net profit of 29.6 percent in the fourth quarter profit in terms of revenue. Because this company has sold the maximum number of special medicines at low cost, so the company has earned good money at low cost. According to sources, the company's profit before extraordinary items and tax rose to 24.11 billion rupees ($291.7 million) for the quarter ended March 31. The company's total revenue increased by 15.7 percent to Rs 109.31 billion, while input costs decreased by 13.2 percent.
Founded in 1983, the pharmaceutical company manufactures over-the-counter medicines, antiretrovirals and active pharmaceutical ingredients for the treatment of chronic and chronic diseases. Sales of the drug in India grew 8.7 percent year-on-year, accounting for over 31 percent of Sun Pharma's consolidated sales, while US sales climbed 20.9 percent.
The company says it was affected by the US Food and Drug Administration's import alert at a plant in Gujarat in December, without elaborating. Despite the popularity of its generics business, intense price competition prompted the drugmaker to enter the high-margin specialty segment about seven years ago. Its global specialty drug sales grew by 28 percent.
This company was acquired in March
In March, Sun Pharma completed the acquisition of US-based Concert Pharmaceuticals Inc., giving it access to the company's late-stage drug duraxolitinib for the treatment of patchy baldness. Its extraordinary items for the March quarter, amounting to Rs 1.71 billion, included an expense of Rs 643.9 crore related to the acquisition of Concert Pharma.
4 per share increased by Rs.
The company said it has proposed a final dividend of Rs 4 per share for the financial year 2023, to which an interim dividend of Rs 7.5 per share has been paid earlier. Shares of Sun Pharma rose 2.6 per cent after the results and erased 6 weeks of losses to end 4.8 per cent for the week.
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