Sun Pharma share price falls 2% after Q4 Results
Sun Pharmaceuticals' share price fell 2% to Rs 856.7 on the NSE on Tuesday after the drugmaker reported a surprise net loss of Rs 2,227.38 crore for the quarter ended March 2022.
Revenue for the quarter increased 11% year on year to Rs 9,386.08 crore.
Dilip Shanghvi was also reappointed as managing director for another five-year term, and Pawan Goenka was named lead independent director.
Sun Pharma stock has outperformed benchmarks so far this year.
Sun Pharma delivered a lower-than-expected 4QFY22 result due to moderation in the RoW/EMs/API segment and higher OPEX, according to analysts at Motilal Oswal Financial Services.