Latest News
-
1:10 Stock Split: Below Rs 10, Fertilizer Sector Turned Ex-Split; 8,282% Returns In 5 Years -
Rs 17/Share Dividend: Record Date On April 26; Buy The ICICI Group Stock To Be Eligible? -
Honasa Consumer to Strengthen Operations by Merging Fusion Cosmeceutics and Just4Kids -
Wipro Reports 7.8% Decline in Q4 Net Profit; CEO Highlights Economic Challenges -
IREDA Hits Record Annual PAT of Rs 1,252 Cr in FY24; Q4 Profits Up by 33% -
Massive Employee Exodus Hits India's Top IT Companies in FY23-24 -
Air India Enhances Operational Efficiency with New Crew Management System -
BlackRock Acquires Shares in Electrosteel Castings and PTC India for Rs 207 Crore -
IndiGo Enhances Domestic Routes with Direct Chennai-Durgapur Flights -
Tesla to Recall Nearly 4,000 Cybertrucks Over Accelerator Pedal Fault
Sun Pharma Q1 Profit Surges 31% YoY Even As Margins Contract
Sun Pharmaceuticals reported a 31.2% y-o-y jump in net profit for the quarter ended June at Rs. 1,338 crore even as its margins took a hit. The revenue of the largest Indian drug manufacturing company came in at Rs. 8,374 crore, an increase of 15.9% over the last year.
Notably, the country's pharma sector too is reeling under slowdown and registered slowest growth in 5 years time in the quarter ended June. Also, pharmaceutical companies such as Sun Pharma which primarily sell their generic drugs in the US face intense competition and pricing pressure, forcing them to cut down on prices and hence settle for lower profitability.
EBITDA of the company climbed 13.7% to Rs. 1696 crore while its operating margin narrowed down to 23%, with a decline of 50 basis point of 0.5%.
Shares of Sun Pharma closed 3.71% higher at Rs. 437.55 despite a 1.66% fall in the benchmark Sensex.
GoodReturns.in
