Sun Pharma Q4 net profit up by 34%

NEW DELHI: Domestic drug biggie Sun Pharma registered an increase of nearly 34% in consolidated net profit at Rs 2,655 crore for the fourth quarter ended March 31. During the quarter, the company’s gross sales grew by 10% to Rs 11,813 crore.

India formulation sales stood at Rs 3708 crore, up 10.2%, while US formulation sales were at $476 million, up 10.9%.

The company’s global specialty sales stood at $271 million, up 11.1%, and accounted for 19% of the Q4FY24 sales.


In another development, the board approved the appointment of Dilip Shanghvi, managing director of the company, as the chairman of the board with immediate effect. Israel Makov had retired as the chairman and member of the company’s board in August 2022, after being at the helm for a decade.

The company’s CMD Dilip Shanghvi said, “During FY24, two of our businesses surpassed $1 billion in annual sales, namely Global Specialty and Emerging Markets. We shall continue to build our specialty portfolio and invest further to gain scale across our businesses.”

Sales of formulations in emerging markets were at $245 million, up by 10.8%, while Rest of World formulation sales were up by 2.5% to $196 million.

For the full year FY24, sales of formulations in India were 14,889 crore, up by 9.5% over the same period last year. Formulation sales in the US for the full year FY24 were $1,854 million up 10.1% over the same period last year.

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