Blue-Chip Pharma Major Records 6-Year High, Top Gainer on Nifty Pharma
By Malvika Gurung
Investing.com — The country’s largest pharmaceutical company, Sun Pharma (NS:) ended up 1.18% at Rs 893.95 apiece, after rising 2% to Rs 900.95 apiece on Friday, recording thus a more than six-year high on the BSE.
The surge in equities was extended by its strong operational performance during the last quarter of December 2021, as it recorded an 11% year-on-year increase in its consolidated revenue to Rs 9,814.2 crore in the third quarter of the year. 22, driven by robust growth in key markets, India and the United States. .
Over the past 8 sessions, the drugmaker has zoomed 13%, and like trading, today at its highest level since October 2015, a newsfeed said.
On the index, only 3 out of 20 stocks finished in the green, led by Sun Pharma, while on the index, the stock was among the top 3 gainers on Friday.
Holding an 8.2% share in the Indian market worth Rs 1.67 trillion, Sun Pharma’s net profit increased by more than 11% year-on-year to Rs 2,058.8 crore, while its EBITDA stood at Rs 2,557.4 crore in the third quarter of FY22.
However, the pharmaceutical heavyweight’s Ebitda margin slipped 80 basis points year-on-year to 26.4% in the quarter under review, driven by a slight decline in gross margins and an increase in expenses.
Additionally, the company’s board of directors announced an interim dividend of Rs 7/share.
Sun Pharma’s business growth in India has exceeded market growth, leading to an increase in market share. Despite rising costs, its profitability is growing.