Sun Pharma shares down over 4% on Q3 net profit drops

The stock declined by 4.25% to end at Rs 622.50 on BSE. Intra-day, it lost 4.47% to Rs 621.05

Shares of Sun Pharma fell by over four per cent today after the company reported a 4.72 per cent decline in consolidated net profit for the December quarter.

The stock declined by 4.25 per cent to end at Rs 622.50 on BSE. Intra-day, it lost 4.47 per cent to Rs 621.05.

At NSE, shares of the company fell by 4 per cent to close at Rs 623.05.

The fall in the stock wiped out Rs 6,637.16 crore to Rs 1,49,350.84 crore from the company's market valuation.

In terms of volume, 8.68 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

Sun Pharmaceutical Industries yesterday reported a 4.72 per cent decline in consolidated net profit to Rs 1,471.82 crore for the December quarter.

It had posted net profit of Rs 1,544.85 crore for the same period of the previous fiscal, Sun Pharma said in a BSE filing.

However, the company's total income from operations rose to Rs 7,912.66 crore for the third quarter of the current financial year, from Rs 7,122.31 crore in the year-ago period.