Sun Pharmaceutical Industries Limited (Sun Pharma) reported a 36.2% quarterly profit decline amid exceptional charges and weaker U.S. formulation sales, even as revenue from operations and Indian sales increased.
Net profit attributable to owners was ₹1,988.5 crore for the quarter ended Sept. 30, down from ₹3,117.95 crore a year earlier. Revenue from operations rose 11.9% to ₹16,198.7 crore. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 4.8% to ₹4,743.9 crore, with a 29.3% margin.
The company recorded ₹1,268.83 crore in exceptional items. The total included ₹922.67 crore, including legal costs, for a settlement in U.S. generic-drug pricing antitrust litigation, and ₹346.16 crore in costs related to the proposed Organon acquisition. Adjusted net profit was ₹3,162 crore.
India formulation sales rose 17.3% to ₹5,552.3 crore, while U.S. formulation sales fell 8.2% to $455 million. Global innovative medicines sales increased 6.9% to $356 million. Research and development spending reached ₹778.42 crore, or 4.8% of sales.
NDTV Profit reported Nov. 2 that Citi kept its Buy rating and ₹2,280 per-share target, while cutting its FY27–FY29 EBITDA estimates by 8% to 12%. The outlet said Citi cited Ilumya execution challenges and higher research spending expected in the second half, while viewing Leqselvi and Unloxcyt as potential growth drivers. NDTV Profit also reported that HSBC kept Buy but lowered its target to ₹2,050 from ₹2,100, and that Bank of America retained Underperform while cutting its target to ₹1,850 from ₹1,915.
The U.S. Food and Drug Administration (FDA) approved Ilumya for adults with active psoriatic arthritis on Oct. 30, Sun Pharma said. The company identified launch as the next milestone but did not give a date. Sun Pharma brought Leqselvi to the U.S. market in July 2025 for severe alopecia areata and made Unloxcyt available there in January 2026 for advanced cutaneous squamous cell carcinoma.
