Sun Pharma shares drop over 3% after Q2 earnings

Shares of Sun Pharmaceutical Industries today fell by over 3 per cent after the company reported a 59.19 per cent decline in consolidated net profit for the September quarter.
The stock slipped 3.29 per cent to Rs 508.80 on the BSE.
At the NSE, it fell 3.32 per cent to Rs 508.55.
Pharma major Sun Pharmaceutical Industries yesterday reported a 59.19 per cent drop in consolidated net profit to Rs 912.12 crore for the September quarter, mainly on account of degrowth in the US sales.
The company had posted a net profit of Rs 2,235.14 crore for the corresponding period of the previous fiscal, Sun Pharma said in a BSE filing.

Consolidated total revenue from operations stood at Rs 6,650.34 crore. It was Rs 8,260.11 crore in the same period of the previous year.