Sun Pharma gains on Q4 earnings, outlook

MUMBAI (Reuters) - Sun Pharmaceutical Industries shares surged nearly 8 percent on Wednesday after it reported net profit rose more than expected and after management guided for robust sales growth in FY14.

The Mumbai-based company said consolidated net profit rose 23 percent to 10.12 billion rupees for the January-March quarter. The company also announced a one-for-one issue of bonus shares.

Sun Pharma expects revenue growth of 18-20 percent for the current fiscal year ending March 2014, its managing director said on Tuesday.

(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)