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Sun Pharma shares drop over 3% on disappointing earnings in Jul-Sep quarter

New Delhi: Shares of Sun Pharmaceutical Industries on Wednesday fell by over 3 percent after the company reported a 59.19 percent decline in consolidated net profit for the September quarter.

Representational image. Getty

Representational image. Getty

The stock slipped 3.29 percent to Rs 508.80 on the BSE.

At the NSE, it fell 3.32 percent to Rs 508.55.

Pharma major Sun Pharmaceutical Industries on Tuesday reported a 59.19 percent drop in consolidated net profit to Rs 912.12 crore for the September quarter, mainly on account of degrowth in the US sales.

The company had posted a net profit of Rs 2,235.14 crore for the corresponding period of the previous fiscal, Sun Pharma said in a BSE filing.

Consolidated total revenue from operations stood at Rs 6,650.34 crore. It was Rs 8,260.11 crore in the same period of the previous year.

Published Date: Nov 15, 2017 13:52 PM | Updated Date: Nov 15, 2017 13:52 PM

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