The Mumbai-based drug maker Sun Pharmaceuticals Industries Ltd on August 3 reported a 1.9% YoY decline in its consolidated net profit at Rs 2,022.5 crore for the first quarter of the current fiscal year against the Rs 2,060.8 crore reported in the Q1FY23.

The drug maker reported an 11% increase in consolidated revenue of Rs 11,941 crore for the June quarter from Rs 10,761.7 crore in the same quarter last year.

EBITDA of the company was at Rs 3,332 crore for the Q1 against the Rs 2,884.4 crore in the year-ago quarter. The EBITDA margin for the quarter is 27.9%, up by 230 basis points from the June quarter of the previous fiscal year.

Dilip Shanghvi, Managing Director of Sun Pharma, said, “All our business continued to have growth this quarter and we are well positioned to meet our growth guidance for FY24. US has led the revenue growth in Q1 and global specialty has continued to increase as a share of our revenues,”

The company has invested Rs 679.6 crore in R&D and has five molecules undergoing clinical trials in its speciality R&D pipeline.