Sun Pharma shares down nearly 3 pc as Q3 profit declines

Shares of drug major Sun Pharma today fell by nearly 3 per cent after the company reported 6.92 per cent decline in consolidated net profit for the third quarter ended December 31, 2014-15.

The stock slipped 2.65 per cent to settle at Rs 914.50 on the BSE. During the day, it lost 3.32 per cent to Rs 908.10.

At the NSE, it fell by 2.83 per cent to close at Rs 913.90.

The stock was the biggest loser among the blue-chip scrips on both Sensex and Nifty.

In terms of volume, 2.17 lakh shares were traded at the BSE, while over 28 lakh shares changed hands at the NSE during the day.
 

Drug major Sun Pharma had on Saturday reported 6.92 per cent decline in consolidated net profit at Rs 1,425.07 crore for the third quarter ended December 31, 2014-15, saying it was hit by supply constraints.

The company had posted a net profit of Rs 1,531.09 crore for the October-December period of the previous fiscal.

Net sales of the company declined to Rs 4,279.54 crore for the quarter under consideration, as against Rs 4,286.59 crore during the same period of 2013-14, Sun Pharmaceutical Industries had said in a statement.