Sun Pharma skids over 7% as Q2 net dips

Shares of Sun Pharma today tumbled over 7 per cent to hit its one-year low level after the firm reported a 46 per cent dip in consolidated net profit for the quarter ended September 30.
The stock dropped by 7.18 per cent to Rs 745.95, its 52-week low, on BSE.
At NSE, shares of the company slipped by 7.27 per cent to hit a one-year low of Rs 744.95.
The stock was the biggest loser on Sensex and Nifty indices.
Drug major Sun Pharma on Saturday reported a 46.02 per cent dip in consolidated net profit to Rs 1,106.66 crore for the quarter ended September 30, due to lower sales growth, volatile currency movements and supply constraints.

The company had posted a net profit of Rs 2,050.22 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries had said in a statement.
Consolidated net sales of the company declined to Rs 6,803.31 crore for the quarter under consideration as against Rs 7,979.31 crore for the same period a year ago.
Sun Pharma Managing Director Dilip Shanghvi had said: "Our performance for the quarter and first half FY16 has been impacted by lower sales growth, volatile currency movements and supply constraints.