Sun Pharma shares climb nearly 3 pc post Q4 earnings

Shares of Sun Pharmaceutical Industries on Friday climbed nearly 3 per cent after the company said its consolidated net profit stood at Rs 1,984 crore for the fourth quarter ended March 2023, aided by robust sales across markets.The stock of Sun Pharma advanced 2.75 per cent to settle at Rs 970.65 on the BSE.

Shares of Sun Pharmaceutical Industries on Friday climbed nearly 3 per cent after the company said its consolidated net profit stood at Rs 1,984 crore for the fourth quarter ended March 2023, aided by robust sales across markets.

The stock of Sun Pharma advanced 2.75 per cent to settle at Rs 970.65 on the BSE. During the day, it jumped 3.38 per cent to Rs 976.65.

At the NSE, it rallied 2.32 per cent to end at Rs 966.95.

The company's market valuation rallied Rs 6,220.82 crore to Rs 2,32,885.99 crore.

On traded volume terms, 1.59 lakh shares of the firm were traded at the BSE and over 41.37 lakh shares on the NSE during the day.

The Mumbai-based company had reported a net loss of Rs 2,277 crore in the January-March quarter of last year.

Excluding the exceptional items, adjusted net profit for the fourth quarter of last fiscal stood at Rs 2,156 crore, up 36 per cent, over the fourth quarter of the 2021-22 fiscal, Sun Pharma said in a regulatory filing on Friday.

Total revenue from operations rose to Rs 10,931 crore for the March quarter as compared with Rs 9,447 crore in the year-ago period.

For the year ended March 31, 2023, the drug major reported a net profit of Rs 8,474 crore as against Rs 3,273 crore in FY22. ''Several of our businesses, including speciality, India and emerging markets have continued to progress well,'' Sun Pharma Managing Director Dilip Shanghvi said.

The speciality business remains on a growth path and the company is committed to continue scaling it up, he added.