Sun Pharma Q3 net profit up 5.2% as sales grow in India, US markets

Company says specialty products will continue as growth driver, will scale up investment for it

Sun Pharmaceutical Industries posted a 5.2 percent year-on-year (YoY) rise in net profit for the third quarter of Financial Year 2022-23 to Rs 2,166 crore, riding on the back of sales in India and the US and an uptick in the global specialty portfolio.

The Mumbai-headquartered firm’s results were in line with analyst estimates, but the stock was down 1.5 percent on BSE on Tuesday.

Total sales grew by 13.1 per cent YoY to Rs 111,00 crore. Of this, India formulation sales were at Rs 3,391 crore, up 7.1 per cent over Q3 last year. US formulation sales were up