Sun Pharma slips after Q2FY18 profit declines
Sun Pharmaceutical Industries shares slipped 2.5% after the pharma company reported consolidated results for the quarter came in mixed versus street estimates.
The company revenue for the quarter came in 3.1 % lower than the estimated figure of Rs 6,861 crore. EBITDA for the quarter came in 1.3 % higher than the estimated figure of Rs 1,357 crore.
Sun Pharmaceutical Industries consolidated revenue for the quarter came in at Rs 6,650 crore, registering 19.5% yoy decline.
EBITDA for the quarter fell by 56.6% yoy to Rs 1,375.6 crore with a corresponding margin contraction of 1767 bps. EBITDA margin for the quarter stood at 20.7%. This margin contraction was aided by 10.4% increase in its employee benefit expenses.
The PAT for the quarter came in at Rs 912.12 crore, yoy decline of 59.2%. This was due to 193% increase in its finance cost.
The stock is currently trading at Rs 513.15, down by Rs 13 or 2.47% from its previous closing of Rs 526.15 on the BSE. The scrip opened at Rs 520.5 and has touched a high and low of Rs 520.5 and Rs 510.3 respectively.
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Via:: Stock – India Infoline