Sun Pharma: Sun Pharma Q4 net profit clocks Rs 1,984 crore; dividend of Rs 4 per share approved – Times of India

AHMEDABAD

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Homegrown pharma main Solar Prescribed drugs Restricted on Friday introduced that its consolidated web revenue grew to Rs 1,984 crore within the fourth quarter of the fiscal 12 months 2022-23. In keeping with the corporate’s regulatory submitting, the revenue after tax rose as in comparison with a web lack of Rs 2,277 crore within the corresponding quarter of FY 2021-22. The pharma main’s income from operations through the quarter clocked a 15.7% progress at Rs 10,930.6 crore, in opposition to Rs 9,446.8 crore within the year-ago interval.
The corporate additionally permitted a ultimate dividend of Rs 4 per fairness share, which might be topic to the approval of the shareholders. That is along with the interim dividend of Rs 7.5 per share paid in FY23, taking the whole dividend for FY23 to Rs 11.5 per share in comparison with Rs 10 per share for FY22.
The yearly rise in income was aided by double-digit progress within the specialty section and strong gross sales within the home formulations enterprise, together with some contribution from the gross sales of the generic Revlimid within the US market, the corporate mentioned in its regulatory submitting.
The corporate’s formulation gross sales within the US for FY23 have been at Rs 168.4 crore up 10.3% over final 12 months. Dilip Shanghvi, MD, Solar Pharma, mentioned, “A number of of our companies together with Specialty, India and Rising markets have continued to progress effectively. Our Specialty enterprise stays on a progress path and we’re dedicated to proceed scaling it up. The acquisition of Live performance helps additional strengthen our portfolio in dermatology. I consider deuruxolitinib can turn into a number one product to deal with extremely unmet want in alopecia areata sufferers.”
Earlier this 12 months, Solar Pharma additionally introduced the completion of its acquisition of Live performance Prescribed drugs.