Sun Pharma gets "Taro"ed!
By
Ruma Dubey
about 6 years ago
Sun Pharma rose 3.5% in the opening bell session to Rs.429.75; it has come off this current intra day high point and is now at Rs.423 levels, up around 1.5%.
The stock price is reacting to the performance of its subsidiary, Taro Pharma. Fpr Q3FY19, the company posted a 13% (YoY) rise in net sales at $176 million and net profit showed a fantastic 422% jump at $93.5 million.
EBITDA was up 29% at $78.9 million and margins rose from 39.7% to 44.7%.