Sun Pharma Q2 net up 5% at Rs 2,375 crore

Sun Pharmaceutical Industries on Wednesday said its consolidated net profit increased by 5 per cent to Rs 2,375 crore for the second quarter ended September 30, driven by robust sales across domestic and US markets.

The drug major had reported a net profit of Rs 2,262 crore in the July-September period of last fiscal.

Total revenue from operations increased to 12,192 crore in the second quarter this fiscal, as compared to Rs 10,952 crore in the year-ago period, Sun Pharma said in a regulatory filing.

Sun Pharma Managing Director Dilip Shanghvi noted that the US FDA's acceptance of deuruxolitinib NDA for treatment of moderate to severe alopecia areata marked an important milestone for the company.

"There are limited treatment options for alopecia areata and deuruxolitinib should make a meaningful difference in patient lives, once approved," he added.

Similarly, another late stage candidate Nidlegy will potentially complement the company's Odomzo franchise, Shanghvi said.

The company said its formulation sales in the US stood at USD 430 million, recording a growth of 4.2 per cent over the second quarter of last fiscal.

The segment accounted for over 30 per cent of the company's total consolidated sales, it added.

Sales of formulations in India for the September quarter stood at Rs 3,842.5 million, up 11.1 per cent year-on-year, as compared to the same period last fiscal.

Domestic formulation sales accounted for about 32 per cent of the total consolidated sales, Sun Pharma said.

Shares of the company were trading 2.14 per cent up at Rs 1,111.95 apiece on the BSE.