Sun Pharmaceutical Industries shares ended 0.87% higher at ₹1,778.25 apiece on the BSE on Friday, shrugging off a 36.36% year-on-year decline in consolidated net profit for the September quarter. The stock has gained 2.02% over the past week and 1.04% over the past two weeks.
The drugmaker reported a consolidated net profit of ₹1,988.53 crore for the July-September quarter, compared with ₹3,124.95 crore in the corresponding period last year. The decline was largely due to exceptional expenses linked to its proposed acquisition of Organon and litigation in the US.
Revenue, however, continued to grow. Consolidated revenue from operations rose 11.9% year-on-year to ₹16,198.71 crore from ₹14,478.31 crore a year earlier.
India remained a key growth driver, with formulation sales in the domestic market climbing 17.3% to ₹5,552.3 crore. The segment contributed 34.5% to Sun Pharma's consolidated sales during the quarter.
Global innovative medicines also supported revenue growth. Sales in this business rose 6.9% to around $356 million, accounting for 21.1% of the company's total sales. Emerging markets contributed another 20.7% to consolidated revenue.
During the post-results earnings call, the company…