Sun Pharma rallies 9%, hits over 4-year high on strong June quarter results

The management said Sun Pharma witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of Covid products

Shares of Sun Pharmaceuticals Industries hit an over four-year high as they rallied 9 per cent to Rs 767.50 on the BSE in intra-day trade on Friday after the company reported strong results for the June quarter (Q1FY22), with adjusted net profit up 73 per cent year-on-year (YoY) at Rs 1,979 crore, mainly due to robust operational performance. The reported net profit for Q1FY22 was at Rs 1,444 crore.

The stock of the drugmaker was trading at its highest level since October 2016. It recorded its sharpest intra-day rally in the past 15 months. Earlier, on April 7, 2020, it had