Sun Pharma shares gain over 5% post Q1 earnings

Shares of Sun Pharma today rose by over 5 per cent after the company posted better-than expected sales for the first quarter of the current fiscal.
The stock went up by 5.11 per cent to Rs 884.90 at the BSE. It gained 5.12 per cent to Rs 884.90 at the NSE.
The stock was the top gainer among the 30 Sensex stocks.
"For Q1 FY16 Sun Pharmaceuticals posted results better than expected, on sales front," said Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking.
Sun Pharma yesterday reported 60 per cent dip in consolidated net profit to Rs 478.96 crore for the quarter ended June 30, pulled down by impairment charges and expense of Rs 685.17 crore on account of integration and optimisation post the Ranbaxy merger.

However, total income increased to Rs 6,767.58 crore during the first quarter of 2015-16, as against Rs 6,341.21 crore in the year ago period.