Sun Pharmaceuticals recorded a revenue of Rs. 7,739.04 Cr which is a decline of about 9.6% over the same quarter last year and about 6.1% less than the quarter ending March 20′. India sales at Rs. 2,388 crores, growth of 3.2% over Q1 last year
Sun Pharma went on in recording a Loss of Rs.1665.50 Cr as compared to Rs. 1,387.48 Cr. profit last year and Rs.399.84 Cr. in the quarter ending March 20′
Sales in the US were US$ 282 million for the quarter accounting for about 29% of total consolidated sales.
In 2010, Sun Pharma acquired US-based Taro Pharmaceuticals, Taro posted Q1FY21 sales of US$ 117.6 million, down 27% over Q1 last year. Excluding the one-time settlement charge of US$ 478.9 million, net profit was US$ 29 million compared to US$ 66.2 million in Q1FY20. Taro’s reported a net loss for Q1 was US$ 434.9 million.
Consolidated R&D investment for Q1FY21 was Rs. 421 crores, or 5.6% of sales as compared to Rs. 422 crores (5.1% of sales) for Q1 last year.
Dilip Shanghvi, Managing Director of the Company said, “The Q1 performance reflects the impact of the global COVID-19 pandemic and consequent lockdown across markets and is not an indicator of the underlying strength of our business. Despite challenging conditions, we have done well and have not lost market share for any of our key
speciality products in the US. We have also maintained our market share in the Indian domestic market. Our timely risk mitigation initiatives ensured smooth operations of our manufacturing network, thereby maintaining continuous supplies of drugs. In the meantime, we continue to focus on serving our patients and customers,
ensuring the safety of our employees and business continuity.”
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You can read the official press release over here