Shares of Sun Pharma fell as much as 4 per cent in the morning trade on Bombay Stock Exchange (BSE) after its Israeli subsidiary Taro reported fall in operating margins for the fourth quarter ended March 2013.
Taro's operating profit margin fell by 7.4 per cent to 38.2 per cent in Jan-Mar quarter as against 45.6 per cent in a year ago period.
The net profits of Taro were up 4.2 per cent year-on-year at USD 49.2 million from USD 47.2 million. Net sales increased 13.8 per cent YoY to USD 165.1 million from USD 145.1 million.
At 12:00 hours, shares of Sun Pharma were trading at Rs 981.30 a piece, down 2.5 per cent from previous close on BSE.