Sun Pharma Q1 net seen at Rs 1894 cr, US sales likely at $598

Home » News » Sun Pharma Q1 net seen at Rs 1894 cr, US sales likely at $598

SunPharma India, is expected to post net profit at Rs 1894.4 crore in April-June quarter from Rs 479 crore in corresponding quarter last fiscal. In Q1FY16, the company had one offs charges on impairment of goodwill to the tune of Rs 685 crore. According to a CNBC-TV18 poll, the drug major is likely to see revenue growth of 20.2 percent at Rs 7876.6 crore in Q1 against Rs 6552.2 crore in year-ago period.

Sales growth is likely to to be led by US markets, riding on sales of cancer drug Gleevec Generic. Sun Pharma had six months exclusivity on Gleevec which expired in July. Hence, analysts polled by CNBC-TV18 expect US business sales will be around USD 598 million of which USD 140 million of sales may come from Gleevec generic in Q1. During the period, its EBITDA may rise 55.7 percent at Rs 2560.7 crore versus Rs 1644.3 crore while operating profit margin may stand at 32.5 percent versus 25.1 percent (year-on-year). Analysts polled by CNBC-TV18 say that commentary on Halol Plant will be key as speculations are rife that the facility will be reinspected soon. Halol has a warning letter outstanding since December 2015 one of company’s most important US plants with USD 300-400 million sales.