Sun Pharma surges 3% as subsidiary Taro posts strong Dec qtr show

Shares of Sun Pharmaceutical soared 3 percent in trade on Thursday morning as investors reacted to good numbers by Taro Pharma, its subsidiary.

The stock touched an intraday high of Rs 426.75 and an intraday low of Rs 422.30.

Taro Pharma reported net sales of USD 176.4 million and is higher by 13 percent. The net profit rose 422 percent to USD 93.5 million. The operating performance by company also witnessed a boost.

Operating profit rose USD 78.9 million, while operating margins rose to 44.7 percent from 39.7 percent
At 09:18 hrs Sun Pharmaceutical Industries was quoting at Rs 425.95, up Rs 10.55, or 2.54 percent, on the BSE.

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