Stocks

Sun Pharma stock hits 52-week high on good earnings

PTI Mumbai | Updated on March 12, 2018 Published on May 29, 2013

Shares of Sun Pharmaceutical Industries today soared by nearly 8 per cent after the company reported 23.32 per cent increase in consolidated net profit for the fourth quarter ended March 31, 2013.

After making a strong opening, shares of the company further gained 7.72 per cent to Rs 1,072.50 — its 52-week high on the BSE.

On the NSE, the stock zoomed 7.68 per cent to a one-year high of Rs 1,072.80.

Sun Pharmaceutical Industries had yesterday reported 23.32 per cent increase in consolidated net profit for the fourth quarter ended March 31, 2013, at Rs 1,011.56 crore and also announced issue of bonus shares to existing shareholders.

The company had posted net profit of Rs 820.21 crore in the same period previous fiscal.

Total income from operations during the quarter under review stood at Rs 3,087.04 crore against Rs 2,336.18 crore in the year-ago period, it said.

For the fiscal 2012-13, consolidated net profit stood at Rs 3,008.06 crore against Rs 2,656.69 crore in the previous fiscal.

un Pharma said it will issue bonus shares to existing shareholders to mark completion of 30 years and crossing the $2 billion revenue milestone.

In the broader market, however, the BSE benchmark Sensex was trading lower by 66.42 points at 20,094.40 at 11.30 a.m.

Published on May 29, 2013
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