Sun Pharmaceutical Industries achieved satisfactory financial performance during the second quarter ended September 2006. Its consolidated net profit improved by 26 per cent to Rs 186.42 crore from Rs 147.84 crore in the similar period of last year. The net sales went up by 29.1 per cent to Rs 536.19 crore from Rs 415.18 crore. Its net interest and other income went up almost by 52 per cent to Rs 40.16 crore from Rs 26.44 crore. The earning per share of Rs 5 face value share worked Rs 10 as against Rs 8 in the last period.

While commenting on performance, Dilip Shanghvi, chairman and managing director, said, "Our results are in line with company-wide focus for consistent sales and net profit growth. Our focus on customer relationships has translated into rank no 1 with 6 specialists, and this helps us build a high growth yet sable business."

Domestic formulations at Rs 283.40 crore registered a growth of 15 per cent over last period, contributing 50 per cent of total sales. In an increasingly competitive marketplace, Sun Pharma now holds 3.3 per cent market share, as per latest IMS ORG report. Based on the latest prescription market share data, the company is now ranked number 1 with orthopaedicians too, in additional to psychiatrists, neurologists, cardiologists, diabetologists, and ophthalmologists. The company launched 22 new products during the first half.

The company with its USA subsidiary Caraco Pharma Labs received approval for 28 products compared to 23 at the end of June 2006. A total of 8 ANDAs have been filed during the second quarter, from Sun and 3 from Caraco. With these 56 products await US FDA approval including 8 tentative approvals; 39 from Sun and 17 from Caraco. Notable approvals include final approval received for gabapentin which has been since launched and tentative approval received after the close off the quarter for amifostine for injection. Both of these are para IV filings.

The company's consolidated R&D expenses reached at Rs 59.90 crore during the second quarter which worked out to 11.2 per cent off net sales. Total number of patents submitted pending approval now sands at 314 in addition to 57 patents granted. Work is on for filings for the US markets from the new US sites of Ohio and New Jersey and for some international markets from Karkhadi in India. Business integration and operational streamlining at ICN Hungary are progressing well.

The consolidated net sales for the first half ended September 2006 improved by 30.1 per cent to Rs 1047.80 crore from Rs 805.34 crore in the corresponding period of last year. Its net profit went up by 27.9 per cent to Rs 363.15 crore with EPS of Rs 19.5 as against Rs 15.3 in the previous period.