Finance Update

Sun Pharmaceutical beats Q3 net profit estimates

Q3 Results: Sun Pharmaceutical beats Q3 net profit estimates

  • Revenue up by 16.3% to Rs.7,740.2 crore.
  • Net profit at Rs. 1,241.9 crore.
  • Ebitda rose by 48.1% to Rs. 2,153 crore.
  • Margin at 27.8% versus 21.8%.

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Sun Pharma Q3 profit jumps fourfold to Rs.1,242 crore, beats Street estimates

ETMarkets.com

Sun Pharma on Tuesday reported nearly fourfold jump in profit at Rs.1,241.85 crore for December quarter, beating Rs.981 crore net estimated by analysts in an ET Now poll. The company had reported Rs.321.57 crore profit in the same quarter last year.

The year-ago numbers were impacted by Rs.513.02 crore exceptional taxes on account of re-measurement of the group’s deferred tax assets as a result of the Tax Cut and Jobs Act enacted in the US on Oct 22, 2017.

Sales for the quarter rose 1.16% YoY to Rs.7,656.71 crore from Rs.6,598.21 crore in the same quarter last year.

Ebitda for the quarter came in at Rs.2,151 crore, which beat ET Now poll estimate of Rs.1,615 crore. Ebitda margin at 28% also was better than 21.8% poll estimates.

Investors were keenly awaiting company’s conference call to get updates on specialty product pipeline and R&D spend. Besides, they were also looking for further clarity on the recent issues related to undisclosed loans and advances.

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