Sun Pharma shares gain despite Q2 profit slips 36% YoY | Should you buy, sell or hold? What brokerage says, target price
New Delhi, Nov. 1 -- Sun Pharmaceutical Industries shares ended 0.87% higher at Rs.1,778.25 apiece on the BSE on Friday, shrugging off a 36.36% year-on-year decline in consolidated net profit for the September quarter. The stock has gained 2.02% over the past week and 1.04% over the past two weeks.
The drugmaker reported a consolidated net profit of Rs.1,988.53 crore for the July-September quarter, compared with Rs.3,124.95 crore in the corresponding period last year. The decline was largely due to exceptional expenses linked to its proposed acquisition of Organon and litigation in the US.
Revenue, however, continued to grow. Consolidated revenue from operations rose 11.9% year-on-year to Rs.16,198.71 crore from Rs.14,478.31 crore a yea...
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