 "Sun Pharma falls as Q3 profit lag estimates")
Shares of Sun Pharmaceutical Industries were trading lower by 3% at Rs 912 on NSE in otherwise firm market after reporting 7% year-on-year (yoy) decline in its consolidated net profit at Rs 1,425 crore for the quarter ended December 31, 2014 (Q3). The pharmaceutical company had profit of Rs 1,531 crore in the same quarter last fiscal.
Net sales during the quarter under review was flat at Rs 4,280 crore against Rs 4,287 crore in the corresponding quarter of last year.
Sales for Q3 were impacted primarily due to temporary supply constraints arising from remediation efforts, Sun Pharma said in a press release.
EBITDA or operating profit declined 3% yoy at Rs 1,913 crore, resulting EBITDA margin of 45% versus 46% for Q3 last year.
Analysts on an average had expected net profit of Rs 1,647 crore on net sales of Rs 4,890 crore.
The stock opened at Rs 918 and touched a low of Rs 907 on NSE. Till 0957 hours, a combined 761,838 shares changed hands on the counter on NSE and BSE.
Net sales during the quarter under review was flat at Rs 4,280 crore against Rs 4,287 crore in the corresponding quarter of last year.
Sales for Q3 were impacted primarily due to temporary supply constraints arising from remediation efforts, Sun Pharma said in a press release.
EBITDA or operating profit declined 3% yoy at Rs 1,913 crore, resulting EBITDA margin of 45% versus 46% for Q3 last year.
Analysts on an average had expected net profit of Rs 1,647 crore on net sales of Rs 4,890 crore.
The stock opened at Rs 918 and touched a low of Rs 907 on NSE. Till 0957 hours, a combined 761,838 shares changed hands on the counter on NSE and BSE.