Native pharmaceutical major Sun Pharmaceuticals Limited announced on Friday that its consolidated net profit rose to Rs.1,984 crore in the fourth quarter of fiscal 2022-23. According to the company’s regulatory filings, after-tax profit increased compared to a net loss of Rs.2,277 crore in the corresponding quarter of FY2021-22. The pharmaceutical group’s operating revenue grew 15.7% in the quarter to Rs.10,930.6 crore from Rs.9,446.8 crore in the same period last year.
The company also approved a final dividend of Rs.4 per share, subject to shareholder approval. This is in addition to the interim dividend of Rs.7.5 per share paid in FY23, bringing the total dividend for FY23 to Rs.11.5 per share compared to Rs.10 per share for FY22.
The annual sales increase was supported by double-digit growth in the specialty segment and robust sales in the domestic formulation business, as well as some contribution from generic sales Revlimid in the US market, the company said in its regulatory filing.
The company’s US formulation sales were 168.4 crore in FY23, a 10.3% increase from the prior year. Dilip Shanghvi, MD, Sun Pharma, said: “Several of our businesses, including specialty businesses, India and emerging markets, have continued to perform well. Our specialties business remains on course for growth and we are determined to expand it further. The acquisition of concert contributes to further strengthening our portfolio in dermatology. I am convinced that deuruxolitinib can become a leading product to address the extremely unmet needs of patients with alopecia areata.”
Earlier in the year, Sun Pharma also announced the completion of its acquisition of Concert Pharmaceuticals.