Sun Pharma Profit Zooms 31pc, Stock Shines

In spite of over 1.6% fall in both benchmarks Nifty & Sensex, shares of Sun Pharma zoomed 3.87% at Rs.438.35  per share on the NSE Today. On the BSE, the share price stood at Rs.437.55, up by 3.71%

Notably, the Indian drug major, Sun Pharma, reported a 31.2% year-on-year surge in its net profit for the quarter ended June (Q1) at Rs.1338-Cr even as its margins took a hit. The revenue of the company arrived at Rs.8374-Cr, a jump of 15.9% over the last year. EBITDA scaled up 13.7% to Rs.1696-Cr while its operating margin slowed down to 23%, with a fall of 50bps, as reported by the Company, during market hours Today.

Reacting positively to the development in the results, however, Sun Pharma stock was among front runners in NSE, BSE in today’s volatile session. The stock opened at Rs.421.50 per share and registered a high of Rs.444.50 and also dipped to an intraday low of Rs.420.75 during the day. At close, the Stock settled at Rs.438.35 per share, up by Rs.16.35 or 3.87pc on the NSE, in comparison the benchmarks Nifty and Sensex declined 1.65pc.

Sun Pharmaceutical Industries Ltd, popularly known as Sun Pharma, is the world’s 4th largest specialty generic pharma company and India’s top pharmaceutical major.

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