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- ✓Sun Pharmaceutical Industries shares ended 0.87% higher at ₹1,778.25 on Friday despite a 36.36% profit drop.
- ✓Managing Director Kirti Ganorkar said, "growth was led by strong momentum in India, emerging markets and other international markets." While expenses rose due to litigation and acquisitions, Choice Institutional Equities maintained a ‘Buy’ rating.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Livemint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Sun Pharmaceutical Industries shares ended 0.87% higher at ₹1,778.25 apiece on the BSE on Friday, shrugging off a 36.36% year-on-year decline in consolidated net profit for the September quarter. The stock has gained 2.02% over the past week and 1.04% over the past two weeks.
The drugmaker reported a consolidated net profit of ₹1,988.53 crore for the July-September quarter, compared with ₹3,124.95 crore in the corresponding period last year. The decline was largely due to exceptional expenses linked to its proposed acquisition of Organon and litigation in the US.
Revenue, however, continued to grow. Consolidated revenue from operations rose 11.9% year-on-year to ₹16,198.71 crore from ₹14,478.31 crore a year earlier.
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