Sun Pharma Q4 net up 23 percent, beats estimate

MUMBAI Tue May 28, 2013 4:50pm IST

A pharmacist gives free medicine provided by the government, to a patient inside a government hospital in Kolkata July 3, 2012. REUTERS/Rupak De Chowdhuri/Files

A pharmacist gives free medicine provided by the government, to a patient inside a government hospital in Kolkata July 3, 2012.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Sun Pharmaceutical Industries(SUN.NS) reported a 23.4 percent rise in quarterly net profit beating market estimates, and India's top drugmaker by market value also announced a bonus share issue.

The Mumbai-based company said consolidated net profit rose to 10.12 billion rupees for the fourth quarter ended March 31, compared with 8.2 billion rupees a year earlier. Sales rose 31.8 percent to 30.71 billion rupees.

Analysts, on an average, had expected the company to post net profit of 9.07 billion rupees on net sales of 29.85 billion rupees, according to Thomson Reuters I/B/E/S.

The company also announced a one-for-one issue of bonus shares.

Shares of Sun Pharma, which has a market value of about $18.81 billion, fell 1.72 percent to 996.25 rupees on Tuesday, while the broader market gained 0.65 percent on the day. The stock has risen nearly 38 percent this year outperforming the benchmark index which has gained about 4 percent.

(Reporting by Kaustubh Kulkarni; Editing by Anand Basu)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS EXCLUSIVE

REUTERS SHOWCASE

Modi In U.S.

Modi In U.S.

Obama, Modi work to deepen improving U.S.-India ties  Full Article | Related Story 

Factory Activity

Factory Activity

Factories expand at slowest pace this year in September  Full Article 

Videocon d2h IPO

Videocon d2h IPO

Videocon d2h files for up to $113 million IPOs  Full Article 

Asian Economy

Asian Economy

Asian factories slow in Sept, push inflation ever lower  Full Article 

EBay Divests PayPal

EBay Divests PayPal

EBay follows Icahn's advice, plans PayPal spinoff in 2015  Full Article 

New 'Windows'

New 'Windows'

Microsoft names next operating system 'Windows 10'.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage