Sun Pharma shares climb 4% after Q3 net profit doubles

Sun Pharma shares climb 4% after Q3 net profit doubles
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The firm a more than two-fold jump in consolidated net profit to ₹1,852.48 crore.

Shares of Sun Pharmaceutical Industries on Friday climbed 3.91% to ₹586.45 on the BSE after the company reported financial results for quarter ended December.

The firm reported a more than two-fold jump in consolidated net profit to ₹1,852.48 crore on account of robust sales in most of its markets, compared with ₹913.52 crore a year earlier, Sun Pharma said in a regulatory filing.

Consolidated total revenue from operations stood at ₹8,836.78 crore compared with ₹8,154.85 crore, it added. The board has proposed an interim dividend of ₹5.50 per share for FY21, the company said. “Our Q3 performance reflects continued profitable business growth in a market that is gradually recovering from the impact of the global pandemic,” MD Dilip Shanghvi said. “Most of our businesses have done well over the third quarter last year.”

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