Profit before tax was at Rs 3,423.5 crore in Q1 FY25, registering a growth of 37.98% on YoY basis.
During the quarter, EBITDA grew 8.3% year on year to Rs 3,607.6 crore while EBITDA margin improved to 28.5% in Q1 FY25 as against 27.9% posted in Q1 FY24.
Sales of formulations in India for Q1 FY25 were at Rs 4,144.5 crore, up 16.4% and accounting for about 31.1% of total consolidated sales.
US formulation sales were $466 million in Q1 FY25, down 1% and accounting for over 31.1% of total consolidated sales.
Formulation sales in Emerging markets were $284 million for Q1 FY25, lower by 2.3% and accounted for 18.9% of total consolidated sales.
Formulation sales in rest of world (ROW) markets, were $190 million in Q1 FY25, down 2.9% and accounted for 12.6% of total consolidated sales.
For Q1FY25, external sales of API stood at Rs 494.6 crore, down 8.3%. The company said that it continue to focus on increasing API supply for captive consumption for key products.
Consolidated R&D investment was at Rs 794 crore in Q1 FY25, up 16.83% of sales as compared to Rs 679.60 crore for Q1 FY24.
On R&D update, the pharma major has a comprehensive product offering in the US market consisting of 537 approved ANDAs while filings for 103 ANDAs await USFDA approval, including 28 tentative approvals. Additionally, the portfolio includes 51 approved NDAs while 14 NDAs await US FDA approval. For the quarter, 1 ANDA was filed and 3 approvals were received.
Dilip Shanghvi, chairman and MD, said, “Sun has recently attained several milestones with the approval of Leqselvi in the US, the filing of Nidlegy in Europe and the completion of acquisition of Taro minority shares. These steps advance our innovative as well as generic business offerings, and will help us serve patients better.”
Meanwhile, on 25 July 2024, U.S. Food and Drug Administration (FDA) approved LEQSELV (deuruxolitinib) 8 mg tablets for the treatment of adults with severe alopecia areata. Currently, a motion seeking a preliminary injunction has been filed in a U.S. court to prevent the launch of LEQSELV. The company intends to rigorously oppose that motion.
Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company.
Shares of Sun Pharmaceuticals Industries fell 0.50% to Rs 1,709.20 on the BSE. The counter hit an all-time high at Rs 1,746 in intraday today.