By CNBC-TV18 Aug 14, 2018 3:07:44 PM IST (Published)
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Shares of Sun Pharmaceutical Industries Ltd surged 7.75 percent after the company reported better-than-expected June quarter results.
Shares of Sun Pharmaceutical Industries Ltd surged 7.75 percent after the company reported better-than-expected June quarter results.
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The scrip traded at Rs 606.35, rising by Rs 43.60 on the BSE at 2:50 PM.
Intra-day, it touched a high of Rs 606.80 and a low of Rs 560.40, after opening at Rs 566.20.
The pharma company reported a net profit of Rs 983 crore ($140.6 million) for the three months ended June 30, compared with a loss of Rs 425 crore a year ago.
In the year-ago quarter, Sun Pharma incurred costs of Rs 951 crore related to settlements in a US antitrust case over sleep disorder drug Modafinil.
Analysts on average expected a net profit of Rs 897 crore. Total revenue from operations rose about 16 percent to Rs 7,224 crore.
The Nifty Pharma surged by 3.22 percent, rising by nearly 296 points, to 9,482.50.
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