Sun Pharma's Q1 sales jump 29%, led by performance in India, US

Headline results for the first quarter:

  • Revenue: INR 96.7 billion ($1.3 billion), up 29%
  • Profit: INR 14.4 billion ($194 million; forecasts of INR 14.1 billion), versus a loss of INR 16.6 billion ($223 million) in the prior year

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"We witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of COVID-19 products," remarked managing director Dilip Shanghvi, with "growth across all our businesses." Sun Pharma's shares climbed as much as 10% on the results.

The executive noted that the company's India business "continues to do well, while our global specialty revenues have grown over Q4." Shanghvi added "we are happy with Ilumya's performance, which has grown both [year-on-year] and sequentially."

Other results:

  • US finished dosage sales (including Taro): $380 million, up 35%
  • Taro Pharmaceutical sales: $147 million, up 25%
  • India sales: INR 33.1 billion ($445 million), up 39%
  • Emerging markets sales: $218 million, up 25%
  • Rest of world sales: $185 million, up 35%
  • Active pharmaceutical ingredient (API) sales: INR 5.1 billion ($69 million), down 7%

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