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Pharma firms' third quarter numbers remain in line with expectations

Indian pharma companies had a mixed performance in December quarter earnings.  

Motilal Oswal Financial Services observed that the earnings were in line with expectations and sales, EBITDA and PAT saw healthy revival on a YoY basis.

US sales grew 12.3 percent while domestic formulation sales grew 8 percent YoY in Q3FY23.

Five companies beat earnings estimates while nine had missed it.

11 companies have seen earnings downgrades and seven had seen earnings upgrades.

Lupin, Divi's Labs and Biocon saw maximum downgrades while Zydus Lifesciences and Dr Reddy's Laboratories witnessed maximum upgrades in earnings estimates.

Sun Pharma and Apollo Hospitals Enterprise are the top picks of Motilal Oswal Financial Services. 

NSE Pharma trades at 22 times one-year forward, lower than its 10-year historical average of nearly 34 percent.

Sun Pharma and Alkem are the top picks of Nuvama Wealth from the sector.

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Pharma firms' third quarter numbers remain in line with expectations; Lupin, Divi's Labs see downgrades

Brokerage firm Motilal Oswal Financial Services observed the December quarter earnings of the pharma companies under its coverage were in line with expectations.

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Pharma firms' third quarter numbers remain in line with expectations; Lupin, Divi's Labs see downgrades

Brokerage firm Motilal Oswal Financial Services observed the December quarter earnings of the pharma companies under its coverage were in line with expectations.

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