Sun Pharma rejuvenates in Q1FY17

Fifth largest specialty generic pharmaceutical company in the world, and India’s largest drug maker Sun Pharma on Aug 12, has declared its Q1FY17 results. Company has posted some magnificent numbers this quarter. In Q1FY17, net profit has increased by 266 per cent and stands at Rs 2034 crores. In the same quarter last year company had reported an exceptional loss of Rs 685.2 crores on account of integration and optimisation measures implemented by the company post Ranbaxy acquisition. EBITDA stands at Rs 2921 crores, which has increased by 35 per cent as compared to Q1FY16.Total income from operation has increased by 22 per cent (YoY) and stands at Rs 8242.99 crores. Tax expenses have increased more than three-fold to Rs 352.7 crore from Rs 112.7 crore on a YoY basis.

On Aug 10, company’s US subsidiary Taro Pharmaceutical Industries has declared its Q1 results. Taro Pharmaceutical Industries' net profit has risen by 6.08 per cent in Q1, and has witnessed a slight decrease in the volumes over corresponding period of the previous year.On the other hand, shares of the parent company on the Indian bourses on Aug 12 closed at Rs 801.80, marginally down by 0.88 per cent.  Shares in the last 5 days have tumbled by 5 per cent, due to the timid sale registered by its subsidiary. 52-week High/Low of Sun Pharma stands at Rs 965/706. Sun Pharmaceuticals Industries Limited is a speciality pharma company. The company's brands are mainly prescribed for chronic therapic areas like cardiology, psychiatry, neurology, gastroenterology, diabetology, ophthalmology, orthopaedics, etc.