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Shares of Sun Pharmaceutical Industries fell 3 per cent to Rs 676 on the BSE in intra-day trade on Friday as investors booked profit after the company reported a lower-than-expected profit after tax (PAT) in the March quarter (Q4F21) due to lower other income. In the past three months, the stock outperformed the market by gaining nearly 20 per cent, as compared to 4.6 per cent rise in the S&P BSE Sensex, till Thursday.
Sun Pharma, on Thursday, posted a 124 per cent year-on-year (YoY) rise in net profit in the fourth quarter of the financial year 2020-21 at Rs 894 crore, mainly on operational efficiencies and a low base in the corresponding quarter last year.
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The company said it is evaluating developing a new pipeline of biosimilars as its Sun
Sun Pharma’s consolidated sales from operations came in at Rs 8,431 crore, up 4.4 per cent YoY, and when compared to Q4 of FY19, it is up 19 per cent. Sales, however, was down 4 per cent sequentially. The company said that Q4 of FY20 sales had an exceptional item (one-time business in the US) and thus the numbers were not strictly comparable.
Stock Covered in the news
