Sun Pharmaceutical Industries declines after announcing Q2 results

Sun Pharmaceutical Industries declined 0.84% to Rs 901 at 9:35 IST on BSE after the company's consolidated net profit rose 15% to Rs 1572 crore on 13% rise in net sales to Rs 4751 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results after market hours on Thursday, 13 November 2014.

Meanwhile, the S&P BSE Sensex was down 8.88 points or 0.03% at 27,925.03.

On BSE, so far 38,279 shares were traded in the counter as against average daily volume of 2.08 lakh shares in the past one quarter.

The stock hit a high of Rs 920.10 and a low of Rs 893 so far during the day. The stock had hit a record high of Rs 932 on 10 November 2014. The stock had hit a 52-week low of Rs 552.50 on 14 March 2014.

The stock had outperformed the market over the past one month till 13 November 2014, rising 13.07% compared with the Sensex's 5.9% rise. The scrip had also outperformed the market in past one quarter, gaining 13.54% as against Sensex's 7.8% rise.

The large-cap pharma firm has an equity capital of Rs 207.12 crore. Face value per share is Re 1.

Sun Pharma's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 18% to Rs 2161 crore in Q2 September 2014 over Q2 September 2013. EBITDA margin stood at 45% in Q2 September 2014, higher than 44% in Q2 September 2013. Branded generic sales in India rose 21% at Rs 1152 crore in Q2 September 2014 over Q2 September 2013. US finished dosage sales rose 15% at $ 481 million in Q2 September 2014 over Q2 September 2013. Overall international revenues accounted for approximately 75% of total revenues for the quarter.

Dilip Shanghvi, Managing Director of the Company said: "We remain focused on strengthening our existing businesses and developing a differentiated and specialty product basket as well as planning for the Ranbaxy integration. We also continue to review opportunities to expand and strengthen our global footprint".

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