Sun Pharma shares jumped as much as 3.15% on the BSE after the earnings announcementSun Pharmaceutical Industries on Thursday reported a net profit of Rs 1,064.09 crore for the quarter ended September 30.
The drug major had posted a net loss of Rs 269.60 crore for the corresponding period a year ago.
In a regulatory filing, Sun Pharma said its revenue from operations came in at Rs 8,123.35 crore in the second quarter of current financial year, as against Rs 6,937.63 crore in the year-ago period.
Shares in Sun Pharma rose more than 3 per cent during the session."Our Q2 and H1 performance demonstrates sustained growth momentum and is in-line with our full-year guidance.
We continue to focus on cost savings and efficiency improvement to align our generic business with the changing industry dynamics," said Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries.Its operating profit - or the earnings before interest, tax, depreciation and amortization (EBITDA) - came in at't Rs.
1,616 crore in the September quarter, marking an increase of 12 per cent over the year-ago period.Sales of Sun Pharma's branded formulations in the country rose 35 per cent to Rs 2,515 crore in the July-September period, and accounted for 31.6 per cent of total consolidated sales, Sun Pharma said in a press release.Its US finished dosage sales stood flat at $339 million, Sun Pharma said.On the BSE, the Sun Pharma stock jumped as much as 3.15 per cent to Rs 441.00 apiece after the earnings announcement.
At 2:56 pm, Sun Pharma shares traded 2.70 per cent higher at Rs 439.10 apiece on the bourse, outperforming the benchmark Sensex index which was up 0.32 per cent.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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