Sun Pharmaceuticals and Industries has clocked strong performance during the first quarter ended June 2010. Its consolidated net profit has taken a quantum jump of 244 per cent to Rs 564.32 crore from Rs 163.84 crore in the corresponding period of last year. Its net sales went up by 77.7 per cent to Rs 1399 crore from Rs 787.59 crore. With strong growth in profits, its earnings per share touched to Rs 27.2 as against Rs 7.9 in the last period.

Dilip Shanghvi, chairman and managing director, said "Business has performed reasonably well, with growth coming from all business segments and in line with our expectations and guidance. While the high margin achieved this quarter is resulting from a one-time sale achieved in the US and hence will not repeat, the core strategy of building a consistent and sustainable business remains unchanged. This will enable us in enhancing our presence across markets with rapidly emerging and profitable generic opportunities.

Sale of branded prescription formulations in India was at Rs 598 crore for the first quarter, registering a growth of 91 per cent over the same quarter last year. On a like-to-like basis, this is equivalent to a growth of about 17 per cent.

Its US subsidiary, Caraco had posted sales of $130 million, up 171 per cent from the corresponding quarter last year. It recorded a net profit of $1.2 million. Caraco has been actively working with cGMP consultants towards the resumption of manufacturing activities at its Michigan facilities.

In the first quarter, ANDAs for 4 products have been filed, two by Sun Pharma and two by Caraco. Counting these, cumulatively ANDAs for 211 products have been filed by Sun Pharma and Caraco with US FDA. The consolidated R&d expenditure touched to Rs 57 crore. A cumulative of 157 DMF/CEP applications have been made, with 90 approved so far. The total number of patent applications submitted now stands at 251 with 83 patents granted so far.