Sun Pharmaceutical Industries said on Friday that strong sales across all regions helped it achieve a consolidated net profit of Rs 1,984 crore for the fourth quarter that ended on March 31, 2023.
The January-March quarter of last year saw a net loss of Rs 2,277 crore for the Mumbai-based corporation.
Sun Pharma said in a regulatory filing that adjusted net profit for the fourth quarter of the previous fiscal year was Rs 2,156 crore, up 36% from the fourth quarter of the 2021–22 fiscal year.
In comparison to the same quarter a year before, total operational revenue increased to Rs 10,931 crore during the March quarter.
The pharmaceutical giant declared a net profit of Rs 8,474 crore for the fiscal year that ended March 31, 2023, up from Rs 3,273 crore in FY22.
Without accounting for the unusual events, adjusted net profit for FY23 was Rs 8,645 crore, a 13% increase over the fiscal year 2021–2022. In comparison to FY22, total operational income grew to Rs. 43,886 crore from Rs. 38,654 crore.
For the fiscal year 2022–2023, the company's board has proposed a final dividend of Rs 4 per share.
Dilip Shanghvi, managing director of Sun Pharma, said that “a number of our businesses, including specialty, India, and emerging markets, have continued to progress well.”
The firm is dedicated to continuing to scale up the speciality business, which is still on a growth trajectory, he said.
“The acquisition of Concert helps us improve our dermatological offering even further. Deuruxolitinib, in my opinion, has the potential to become a market-leading medicine for treating patients with alopecia areata, according to Shanghvi.
On the BSE, business shares were up 2.75 percent, trading for Rs 970.65 per.
