Sun Pharmaceutical Industries is trading higher by nearly 4% at Rs 621 on BSE after its US subsidiary Taro Pharma reported a good set of earnings for the second quarter. The company will also announce its July-September (Q2) earnings later today.
Taro Pharmaceutical Industries, a wholly-owned subsidiary of the company, has reported a strong 47% yoy growth in net profit and 27% yoy jump in sales for the quarter ended September 2013.
The stock opened at Rs 611 and has seen a combined around 888,000 shares changing hands on the counter in early morning deals on BSE and NSE.
Analysts on an average expect profit after tax to grow 40% year-on-year (yoy) to Rs 1,267 crore for the quarter.
Sun Pharma is likely to clock a 27.1% year-on-year (yoy) growth on the sales front, led by both exports and domestic sales.
The operating profit margin would decline by an estimated 50bp with margin likely to be around 43.5%, analyst at Angel Broking said in a note.
However, inspite of the same, the net profit is expected to post a growth of 79.0% yoy during the quarter, mainly on back of lower taxation during the period, analyst said.
Taro Pharmaceutical Industries, a wholly-owned subsidiary of the company, has reported a strong 47% yoy growth in net profit and 27% yoy jump in sales for the quarter ended September 2013.
The stock opened at Rs 611 and has seen a combined around 888,000 shares changing hands on the counter in early morning deals on BSE and NSE.
Analysts on an average expect profit after tax to grow 40% year-on-year (yoy) to Rs 1,267 crore for the quarter.
Sun Pharma is likely to clock a 27.1% year-on-year (yoy) growth on the sales front, led by both exports and domestic sales.
The operating profit margin would decline by an estimated 50bp with margin likely to be around 43.5%, analyst at Angel Broking said in a note.
However, inspite of the same, the net profit is expected to post a growth of 79.0% yoy during the quarter, mainly on back of lower taxation during the period, analyst said.
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