Sun Pharma posts Q4FY23 profit at Rs 1,984.47 crore, revenue up 15.7% on-year; dividend declared
Sun Pharma posted revenue from operations at Rs 10,930.67 crore, up 15.7 per cent as against Rs 9,446.76 crore in the fourth quarter of FY22.
Sun Pharmaceutical on Friday posted its fiscal fourth quarter profit at Rs 1,984.47 crore in comparison to a loss of Rs 2,277.25 crore in the same quarter last year. It posted revenue from operations at Rs 10,930.67 crore, up 15.7 per cent as against Rs 9,446.76 crore in the fourth quarter of FY22. According to a CNBC TV18 poll, Sun Pharma was expected to post a profit of Rs 1949.4 crore and revenue for the quarter at Rs 11,108.5 crore. Sun Pharma’s total income for the fourth quarter was at Rs 11,303.95 crore while total expenses during the quarter was Rs 8,892.81 crore. The Board also recommended a final dividend of Rs 4 per equity share of Re 1 each. “This is in addition to the interim dividend of Rs 7.5 per share paid in FY23, taking the total dividend for FY23 to Rs 11.5 per share compared to Rs 10 per share for FY22,” it said in the regulatory filing.
“Several of our businesses including Specialty, India and Emerging markets have continued to progress well. Our Specialty business remains on a growth path and we are committed to continue scaling it up. Acquisition of Concert helps further strengthen our portfolio in dermatology. I believe deuruxolitinib can become a leading product to address highly unmet needs in alopecia areata patients,” said Dilip Shanghvi, Managing Director, Sun Pharma. Sun Pharma announced the successful completion of its acquisition of Concert Pharmaceuticals, Inc in March 2023.