Sun Pharmaceutical Industries has moved higher by 4% to Rs 1,008, recovering its entire Friday’s loss, ahead of its January-March (Q4) quarter results that will be announced tomorrow.
The stock has opened at Rs 970 and hit a high of Rs 1,016 on NSE. A combined around 1.19 million shares have changed hands on the till 1400 hours on NSE and BSE.
On Friday, the stock had declined 3.7% after its Israeli unit, Taro Pharmaceuticals, posted a lower-than-expected net profit in the January-March quarter.
Taro contributes nearly 28% of Sun Pharma’s revenues and 38% of the profit before tax (PBT).
“The slower than expected revenues of Taro translate into an impact of 2% and 7% on revenue and PBT estimates of Sun Pharma for Q4 FY2013 respectively,” according to analyst at Sharekhan.
However, given the other elements of growth, like newly acquired DUSA Pharmaceuticals and generic business of URL Pharma in the US market, Sun Pharma may be able to make up the shortfall in revenues and profit from Taro Pharma.
Meanwhile, Sun Pharma to report a growth of 38.5% year-on-year in sales to Rs 3,226 crore but only a 5% rise in the net profit to Rs 862 crore in Q4 FY2013, said analyst in its report.
The stock has opened at Rs 970 and hit a high of Rs 1,016 on NSE. A combined around 1.19 million shares have changed hands on the till 1400 hours on NSE and BSE.
On Friday, the stock had declined 3.7% after its Israeli unit, Taro Pharmaceuticals, posted a lower-than-expected net profit in the January-March quarter.
Taro contributes nearly 28% of Sun Pharma’s revenues and 38% of the profit before tax (PBT).
“The slower than expected revenues of Taro translate into an impact of 2% and 7% on revenue and PBT estimates of Sun Pharma for Q4 FY2013 respectively,” according to analyst at Sharekhan.
However, given the other elements of growth, like newly acquired DUSA Pharmaceuticals and generic business of URL Pharma in the US market, Sun Pharma may be able to make up the shortfall in revenues and profit from Taro Pharma.
Meanwhile, Sun Pharma to report a growth of 38.5% year-on-year in sales to Rs 3,226 crore but only a 5% rise in the net profit to Rs 862 crore in Q4 FY2013, said analyst in its report.
