Sun Pharma in great health!

Sun Pharma is on a roll today morning and that was but expected given its fantastic performance for Q2FY17.

The pharma major posted a whopping 117% (YoY) jump in consolidated net profit at Rs.2235 crore on a 13% rise in net sales at Rs.7764 crore. EBITDA for the quarter came in 69% higher at Rs.3168 crore while margins jumped up from 27.2% to 38.3%. The company’s interest cost was also down from Rs.158 crore to Rs.54 crore.

Its other operating income for the quarter was at Rs. 501 crores which includes US$ 45 million of milestone payment from Almirall S.A (Spain) as part of the licensing agreement for the development and commercialization of Tildrakizumab for psoriasis in Europe.

In terms of geographical distribution of revenue, India sales rose 11%, US finished dosage sales rose 9% - which was on account of the benefit it enjoyed on account of 180-day exclusivity for Imatinib which lasted till July-2016. Its • Emerging Markets sales was up 22% and Rest of World sales rose 3%. R&D investment now remains steady at 7.3% of revenue.

The market is extremely enthused with the performance and is the top gainer on the BSE, up currently 5 at Rs.699 levels with an intra day high at Rs.708.