Sun Pharma gains 10% in two days on healthy September quarter results

The company said that sales of specialty products have improved sequentially with Ilumya and Cequa reaching pre-Covid levels

Shares of Sun Pharmaceutical Industries climbed 4 per cent to Rs 505 on the BSE on Wednesday, gaining 10 per cent in the past two trading days, after the company reported a healthy 70 per cent year-on-year (YoY) growth in profit after tax at Rs 1,813 crore in the September quarter (Q2FY21), on the back of strong operational performance.

The company's Ebitda (earnings before interest, taxes, depreciation, and amortisation) margins expanded 361 basis points YoY to 25.6 per cent mainly due to better product mix (higher specialty sales) and lower other expenditure. Revenues, however, grew 5.3 per cent YoY