Sun Pharmaceutical shares plunge 7% as Q2 net profit falls

By: |
New Delhi | Updated: November 9, 2015 4:31:11 PM

Sun Pharmaceutical share price dipped as much as 7 per cent in the morning trade on Monday after the pharma major reported a 46 per cent fall in its consolidated net profit

Sun PharmaSun Pharmaceutical share price dipped as much as 7 per cent in the morning trade on Monday after the pharma major reported a 46 per cent fall in its consolidated net profit. (Photo: PTI)

Sun Pharmaceutical share price dipped as much as 7 per cent in the morning trade on Monday after the pharma major reported a 46 per cent fall in its consolidated net profit at Rs 1,106.66 crore for the second quarter ended September 30. The company posted net profit of Rs 2050.22 crore in the corresponding quarter last year.

At 11.30 am, Shares of Sun Pharma was trading 4.75 per cent down at Rs 765.50. The scrip opened at Rs 763.50 and had touched a high and low of Rs 772 and Rs 745.95, respectively, in trade so far. Sensex was down 1.06 per cent at 25,986.53.

The share price of the phama major closed 5.82 per cent down at Rs 756.90.

Consolidated net sales of the company declined to Rs 6,803.31 crore for the quarter under review as against Rs 7,979.31 crore for the same period a year ago.

The promoters holding in the company stood at 54.71 per cent while institutions and non-institutions held 35.62 per cent and 9.67 per cent, respectively.

In the past one year, share price of Sun Pharma plunged around 10 per cent to Rs 803.70 on November 6. Sensex declined 5.7 per cent during the same period.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop