Sun Pharma rocks on BSE after posting good results

Stocks

oi-Staff

By Super

Published: Tuesday, June 19, 2012, 14:28 [IST]

Sun Pharmaceutical, the Mumbai-based pharmaceutical company posted a 19% rise in net profits for the second quarter ended September 30. The drug maker's profit rose to Rs 598 crore during the quarter.

The stock of the company zoomed on the bourses after it announced its quarterly results.

The scrip of the company was trading up by 15.05 points or 3% at Rs 518.90 on the Bombay Stock Exchange (BSE).

The same trend was seen on the National Stock Exchange (NSE) as well, it was up by 15.20 points or 3.01% at Rs 519.50.

The Israel-based Taro Pharmaceutical Industries became the subsidiary unit of the company on September 20, 2010, hence the consolidated results have not been compared with the previous year's quarter, the company said in a statement.

The company's total income jumped by 42% to Rs 1,971 crore during the quarter.

It's EBITDA margin stood at 41% during the quarter.

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