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Shares of Sun Pharma today tumbled over 7 per cent to hit its one-year low level after the firm reported a 46 per cent dip in consolidated net profit for the quarter ended September 30, 2015.
The stock dropped by 7.18 per cent to Rs 745.95, its 52-week low, on the BSE.
On the NSE, shares of the company slipped 7.27 per cent to hit a one-year low of Rs 744.95.
The stock was the biggest loser on both the Sensex and Nifty indices.
The company had on Saturday reported a 46.02 per cent dip in consolidated net profit to Rs 1,106.66 crore for the quarter ended September 30, 2015 due to lower sales growth, volatile currency movement and supply constraints.
The company had posted a net profit of Rs 2,050.22 crore for the corresponding period of the previous fiscal, Sun Pharmaceutical Industries had said in a statement.
Consolidated net sales of the company declined to Rs 6,803.31 crore during the quarter under consideration against Rs 7,979.31 crore for the same period a year ago.
Sun Pharma Managing Director Dilip Shanghvi had said: “Our performance for the quarter and first half FY16 has been impacted by lower sales growth, volatile currency movements and supply constraints.”
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