Sun Pharma rallies 6% post Q4 results

The stock rallied 6% to Rs 496 on the BSE in early morning trade after the drug maker reported a net profit of Rs 13.08 billion in March 2018 quarter.

Shares of Sun Pharmaceutical Industries have rallied 6% to Rs 496 per share on the BSE in early morning trade after the drug maker reported a net profit of Rs 13.08 billion in March 2018 quarter (Q4FY18) as against Rs 12.23 billion in the same quarter last year aided by one-time tax gain of Rs 2.59 billion.

Revenue from operations declined 2% to Rs 67.11 billion on account of continued pressure in the US market.

“The decline in revenue is primarily driven by the US and the API businesses. All other businesses have recorded positive growth for the