Sun Pharma posts consolidated net profit of Rs.1,984 cr in Q4

New Delhi: Sun Pharmaceutical Industries on Friday said its consolidated net profit stood at Rs 1,984 crore for the fourth quarter ended March 31, 2023, aided by robust sales across markets.

The Mumbai-based company had reported a net loss of Rs 2,277 crore in the January-March quarter of last year.

Excluding the exceptional items, adjusted net profit for the fourth quarter last fiscal stood at Rs 2,156 crore, up 36 per cent, over the fourth quarter of 2021-22 fiscal, Sun Pharma said in a regulatory filing.

Total revenue from operations rose to Rs 10,931 crore for the March quarter as compared with Rs 9,447 crore in the year-ago period.

For the year ended March 31, 2023, the drug major reported a net profit of Rs 8,474 crore as against Rs 3,273 crore in FY22.

Excluding the exceptional items, adjusted net profit for FY23 stood at Rs 8,645 crore, up 13 per cent over 2021-22 fiscal. Total revenue from operations increased to Rs 43,886 crore as against Rs 38,654 crore in FY22.

The company's board has recommended a final dividend of Rs 4 per share for the financial year 2022-23.

"Several of our businesses, including specialty, India and emerging markets have continued to progress well," Sun Pharma Managing Director Dilip Shanghvi noted.

The specialty business remains on a growth path and the company is committed to continue scaling it up, he added.

"Acquisition of Concert helps further strengthen our portfolio in dermatology. I believe deuruxolitinib can become a leading product to address highly unmet need in alopecia areata patients," Shanghvi said.

Shares of the company were trading 2.75 per cent up at Rs 970.65 apiece on the BSE