Sun Pharma Shares Drop 3% After Sharp Q2 Profit Decline

Sun Pharmaceutical Industries fell over 3% on Monday, snapping a four-day winning streak, after the company reported a steep drop in its July-September quarter ***** net profit plunged 36.36% year-on-year to ₹1,988.53 crore. The decline was largely due to one-time costs related to the proposed Organon acquisition and litigation expenses in the US. Revenue, however, rose nearly 24% to ₹16,198.71 crore, driven by strong performance in the India formulations business, which grew 17.3% to ₹5,552.3 crore and contributed 34.5% of total sales. Global innovative medicines sales also rose 6.9%.Management retained its high single-digit revenue growth guidance for FY27. Despite the weak profit numbers, most brokerages remained positive on the stock, citing the strength of the India business and long-term benefits from the Organon deal.