Sun Pharma posts 16.5% rise in Q3 net profit, declares dividend of Rs 8.50/share

MUMBAI: Sun Pharmaceutical Industries Ltd on Wednesday reported a 16.52 per cent rise in net profit at Rs 2,523.75 crore for the October-December quarter of the current financial year on the back of strong sales in the domestic and US markets.

The company had reported a net profit of Rs 2,166.01 crore in the same period of the previous fiscal.

The pharma major’s board has declared an interim dividend of Rs 8.50 per share for 2023-24, up from Rs 7.50 per share interim dividend for the previous year.

The company’s revenue from operations rose 10 per cent to Rs 12,381 crore in the December quarter.

Sun Pharmaceuticals Managing Director Dilip Shanghvi said, "We are pleased by our continued broad-based growth, including in global specialty. We are keenly looking forward to EMA filing of Nidlegy in the coming months. Once approved, Nidlegy will significantly expand our onco-derm franchise in Europe."

The company’s share price shot up 4.88 per cent after the results to cross a one-year high at Rs 1,438.50.