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Shares of Sun Pharmaceutical Industries today rose 2.8 per cent led by QoQ operating profit growth.
According to IDFC, QoQ improvement in April-June operating performance and management commentary is encouraging.
Adjusted for one-off charges, June-quarter EBIDTA came in around Rs 1,830 crore, largely inline with estimates, analysts say.
The company’s April-June quarter net profit fell to Rs 479 crore from Rs 1,205 crore a year earlier.
According to an analyst, weakness in net profit growth due to integration of Ranbaxy operations is temporary.
Sun Pharma had bought Ranbaxy in March in an all-stock deal worth $3.2 billion last year.
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