New Delhi, May 27 (PTI) New Delhi, May 27 (PTI) Pharma major Sun Pharmaceutical Industries on Wednesday reported a 37.12 per cent decline in its consolidated net profit to Rs 399.84 crore for the quarter ended March 2020, mainly on account of one time exceptional loss.

The company had posted a net profit of Rs 635.88 crore in the same period previous fiscal, Sun Pharma said in a BSE filing.

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Consolidated revenue from operations stood at Rs 8,184.94 crore for the quarter under consideration as against Rs 7,163.92 crore in the same period a year ago, it added.

The company had a one-time exceptional loss of Rs 260.64 crore in the quarter ended March 2020, the filing said.

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For the fiscal ended March 2020, the net profit of the company was at Rs 3,764.93 crore as against Rs 2,665.42 crore in the previous fiscal, Sun Pharma said.

The revenue from operations for the fiscal ended March this year stood at Rs 32,837.50 crore. It was Rs 29,065.91 crore the year-ago fiscal, it added.

The board has recommended payment of dividend of Re 1 per equity share of Re 1 each for the year ended March 31, 2020, Sun Pharma said.

"In terms of business performance, we have done well and have started gaining market share in India. Our global specialty business has also gained reasonable traction with Ilumya recording approximately USD 94 million sales globally in the first full year of commercialisation," Sun Pharmaceutical Industries MD Dilip Shanghvi said.

The company's endeavour will be to gain market share in each of its businesses by doing better, despite the near-term uncertainties related to COVID-19, he added.

"I am happy to see that we are able to maintain business continuity in these challenging times, so that patients continue to get access to their much needed medications," Shanghvi said.

Sun Pharma is also supporting various governments in their efforts to combat COVID-19, he added.

"Sale of branded formulations in India for Q4FY20 was Rs 2,365 crore, and accounted for about 29 per cent of total consolidated sales. For full year FY20, sales were at 9,710 crore, accounting for about 30 per cent of overall revenues," Sun Pharma said.

Adjusted for the one-time impact of approximately Rs 1,085 crore related to the change in distribution for India business in Q4 last year, the India business has recorded a year-on-year growth of 8 per cent for Q4 and 15 per cent for full year FY20, it added.

Sun Pharma holds approximately 8.2 per cent market share in the over Rs 1,43,000 crore Indian pharmaceutical market as per AIOCD AWACS MAT March-2020 report. The market share has improved to about 8.4 per cent in Q4FY20, the filing said.

Sales in the US were USD 375 million (around Rs 2,838 crore) for the quarter under consideration, down by 15 per cent over same period last year and accounted for about 34 per cent of total consolidated sales. For full year FY20 sales were USD 1,487 million ( around Rs 11,251 crore) recording a marginal decline of 2 per cent over same period last year, the company said.

The sales in emerging markets were at USD 187 million (around Rs 1,414 crore) for Q4, a growth of 8 per cent over same quarter last year. Overall sales in emerging markets accounted for about 17 per cent of total consolidated sales for the quarter, Sun Pharma said.

Formulation sales in Rest of World (ROW) markets excluding the US and emerging markets were USD 155 million (around Rs 1,172 crore) in Q4FY20, up by 1 per cent over Q4 last year and accounted for approximately 14 per cent of total consolidated sales, it added.

The API business imparts benefits of vertical integration and continuity of supply chain for its formulations business.

"We continue to increase the API supply for captive consumption for key products. For Q4FY20, external sales of API were at Rs 483 crore, flat over Q4 last year," Sun Pharma said.

Consolidated R&D investment for Q4FY20 was Rs 536 crore, or 6.6 per cent of sales as compared to Rs 567 crore for Q4 last year. For full year FY20, R&D investment was Rs 1,974 crore, or 6.1 per cent of sales, it added.

Shares of Sun Pharmaceutical Industries closed at Rs 450.55 per scrip on BSE, down 1.85 per cent from its previous close.

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