Sun Pharma shares fall 4% on Q2 result
Sun Pharma shares closed 4% lower after the company reported a 59.19% cent decline in consolidated net profit for the quarter ended 30 September
New Delhi: Shares of Sun Pharmaceutical Industries Ltd on Wednesday ended 4% lower after the company reported a 59.19% cent decline in consolidated net profit for the quarter ended 30 September.
The stock slipped 4.01% to close at Rs505.05 on BSE. During the day, it fell 4.76% to Rs501.10. The scrip was the worst hit among the 30 Sensex bluechips. On NSE, shares of the company dipped 4% to close at Rs504.65.
The company’s market valuation also fell by Rs5,064.97 crore to Rs1.21 trillion. In terms of equity volume, 10.32 lakh shares of the company were traded on BSE and over 86 lakh shares changed hands on NSE during the day.
Pharma major Sun Pharmaceutical Industries on Tuesday reported a 59.19% drop in consolidated net profit to Rs912.12 crore for the September quarter, mainly on account of degrowth in the US sales. The company had posted a net profit of Rs2,235.14 crore for the corresponding period of the previous fiscal, Sun Pharma said in a BSE filing.
Consolidated total revenue from operations stood at Rs6,650.34 crore. It was Rs8,260.11 crore in the same period of the previous year.
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