Sun Pharma shares dip 4%, m-cap drops by Rs 5,065 cr as Q2 net declines 59%

Shares of Sun Pharmaceutical Industries on Wednesday ended 4 per cent lower after the company reported a 59.19 per cent decline in consolidated net profit for the September quarter of the current financial year.

The stock slipped 4.01 per cent to end at Rs 505.05 on BSE. During the day, it lost 4.76 per cent to Rs 501.10.

The scrip was the worst hit among the 30 Sensex blue chips.

On NSE, shares of the company dipped 4 per cent to close at Rs 504.65.

The company's market valuation also fell by Rs 5,064.97 crore to Rs 1,21,174.03 crore.

In terms of equity volume, 10,32,000 shares of the company were traded on BSE and over 86 lakh shares changed hands on NSE during the day.

Pharma major Sun Pharmaceutical Industries yesterday reported a 59.19 per cent drop in consolidated net profit to Rs 912.12 crore for the September quarter, mainly on account of degrowth in the US sales.

The company had posted a net profit of Rs 2,235.14 crore for the corresponding period of the previous fiscal, Sun Pharma said in a BSE filing.

Consolidated total revenue from operations stood at Rs 6,650.34 crore. It was Rs 8,260.11 crore in the same period of the previous year.