Shares of Sun Pharmaceutical Industries Ltd opened marginally lower even after better-than
By: TOGRP
May 29, 2023 5:44 AM / 0 Comments Banking and Finance ZentaPost ZentaNewsDesk News International News
Shares of Sun Pharmaceutical Industries Ltd opened marginally lower even after better-than-expected numbers for March quarter earnings. The stock was trading at Rs 971.85 on BSE.
Sun Pharmaceutical Industries, a major multinational pharmaceutical company based in India, has reported its financial results for the fourth quarter (Q4) of the fiscal year 2023. After the announcement, the company's stock was trading at INR 971.85 on BSE, which represents a decrease of 0.12 percent from its closing price on May 26.
In its Q4 earnings report, Sun Pharma announced a net profit of INR 1,984.5 crore, which is a significant turnaround from the loss of INR 2,227.38 crore reported in the same period last year.
Despite the recent drop in share price, the financial performance of Sun Pharma during Q4 of FY23 was expected to show strong growth. This growth was anticipated to be largely driven by the company's specialty business and robust sales in the domestic market.