Sun Pharma shares up by 2.5%; revenue rose by 11% in Q1
Sun Pharma shares and Q1 results: Revenue is up by 11% at Rs 11,941 cr, and Net profit is down 2% at Rs 2,203 cr.
On Thursday, Pharma primary Sun Pharmaceuticals Industries Ltd reported a borderline drop in net profit for the June quarter at Rs 2,203 crore, hurt by a cost pitch. The company reported a consolidated net profit of Rs 2,061 crore in the year-ago time.
Sun Pharma earnings rose 11% to Rs 11,941 crore for the June 30, 2023 quarter, against Rs 10,762 crore in the year-ago span. In Q1FY24, the business reported a one-time loss of Rs 323 crore.
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At 1415 hours on Thursday, Sun Pharma’s share on BSE was trading 2.5% higher at Rs 1,164.
Dilip Shanghvi, Managing Director of the firm, stated: “All our business continued to have growth this quarter, and we are well positioned to meet our growth guidance for FY24.”
“US has led the revenue growth in Q1, and Global Specialty has continued to increase as a share of our revenues. I am excited about the progress in our speciality pipeline and the potential for offering new treatments for needy patients.”
