Home » Pharma News » Sun Pharma Q3 beats estimates, profit jumps 28%; revenue up 3.6%

Sun Pharma Q3 beats estimates, profit jumps 28%; revenue up 3.6%

 Sun Pharma Q3 beats estimates, profit jumps 28%; revenue up 3.6%
Drug major Sun Pharmaceutical Industries   ‘ third quarter earnings surpassed analysts’ expectations on Friday with profit rising 28 percent sequentially (up 258.3 percent year-on-year) to Rs 1,416.6 crore. Bottomline on sequential basis was boosted by other income, lower tax cost and good operational performance while lower tax expenses and other income supported profitability YoY. Sharp increase year-on-year in bottomline was due to low base in year-ago period. Profit in Q3FY15 was impacted due to higher tax out flow of Rs 1,028 crore & minority interest of Rs 284 crore and Halol issue & Ranbaxy integration cost. Revenue increased 3.6 percent (up 2 percent YoY) to Rs 7,082.1 crore in quarter ended December 2015 compared to Rs 6,837.6 crore in preceding quarter. Profit was expected at Rs 1,157.7 crore on revenue of Rs 6,955 crore and operating profit was estimated at Rs 1,968.5 crore with margin at 28 percent for the quarter, according to analysts polled by CNBC-TV18. Consolidated operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 rose 0.2 percent YoY and 11.7 percent QoQ to Rs 2,169 crore and margin expanded 220 basis points sequentially (down 60 basis points YoY) to 30.6 percent in quarter ended December 2015. Other income stood at Rs 219 crore in October-December quarter against loss of Rs 76.5 crore in year-ago period and sequentially that jumped 29.1 percent. Tax expenses declined 80.4 percent on yearly basis and 39.8 percent quarter-on-quarter to Rs 202 crore in Q3. Finance cost dropped 21 percent QoQ and 22 percent YoY to Rs 117 crore during the quarter. Speaking to CNBC-TV18, SP Tulsian says this is the only pharma stock which has not corrected much and has given almost 20 percent gains. Meanwhile, Sarabjit Kaur Nangra, Angel Broking, says the topline is in-line with expectations and the striking factor is the margins that the company has come out with. At 15:08 hours IST, the scrip of Sun Pharmaceutical Industries was quoting at Rs 850.25, up Rs 19.30, or 2.32 percent amid high volumes on the BSE.

Read more at: http://www.moneycontrol.com/news/results/sun-pharma-q3-beats-estimates-profit-jumps-28-revenue36_5441181.html?utm_source=ref_article

Thanks for the comment

Social Media Auto Publish Powered By : XYZScripts.com
%d bloggers like this: