Sun Pharma share price fell almost 3.5% intraday after a volatile session on Wednesday as the pharma major posted March quarterly results today.
By the last hour of the session, Sun Pharma shares were trading 3.47% lower at the day's low of Rs 443.1 on BSE as against the last closing value of Rs 459.05. Earlier the stock opened 1.81% higher at Rs 467.40, also its day's high.
Sun Pharma stock turned volatile by the later half and closed 1.85% lower at Rs 450.55 on BSE. On NSE, the stock closed 1.95% lower at Rs 450.20.
Stock price of Sun Pharma has fallen 1.12% in one week and 8% in one month. However, the stock has risen 4.17% since the beginning of the year.
Company's stock price currently trades higher than its 50, 100 and 200 day moving averages but lower than 5 and 20-day moving averages.
Market capitalisation of Sun Pharma stock stood at Rs 1,08,099.37 crore, as of closing today.
The company reported a 37% fall in net profit at Rs 399 crore during the quarter ended March 31, 2020, as against Rs 635 crore, recorded in a year-ago period.
Company's total income rose 14% (YoY) to Rs 8,184 crore in the January-March quarter of the current fiscal as compared to Rs 7,164 crore in a year-ago period.
Sun Pharma's EBIDTA gained 34% yearly to 1,363 crore in Q4FY20 as against Rs 1,017 crore during Q4FY19.
Commenting on the results, Uday Baldota, Taro's CEO said, "Despite the leading market position of many of our products, we continue to face a challenging US generic market. In the short-term, even as we commercialise recently approved products, we expect operations and profitability to be temporarily impacted as a result of the COVID-19 pandemic."