Sun Pharma-arm Taro logs better-than-expected Q3 Ebitda margin; stock up 4%

In Q3FY22, Taro's EBITDA margins improved 108 bps year-on-year (YoY) to 31.3 per cent mainly due to better gross margins.

Shares of Sun Pharmaceutical Industries moved higher by 4 per cent to Rs 841 on the BSE in Friday's intra-day trade after its subsidiary Taro Pharma reported better-than-expected earnings before interest tax and depreciation and amortization (EBITDA) margins for December quarter (Q3FY22).

At 12:47 pm, Sun Pharma was up 3 per cent at Rs 839, as compared to a 1.3 per cent gain in the S&P BSE Sensex. The stock had hit a 52-week high of Rs 871 on January 13, 2022. Trading volumes on the counter jumped over three-fold with a combined 3.9 million equity shares having changed