Sun Pharma share price slips 1% on weak Q3 show by US subsidiary

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Sun Pharmaceutical Industries share price slipped over 1 percent intraday on February 4 after its US subsidiary, Taro Pharmaceuticals, reported weak numbers for the quarter ended December 2019.

Taro Pharma's Q3 net profit was down 27.6 percent at $67.68 million against $93.5 million in the year-ago period.

Revenue was down 16.3 percent at $147.7 million versus $176.4 million, YoY.

Its forex income stood at $3.3 million, while tax expense was at $2.87 million.

Operating income shed 26.3 percent at $58.19 million and operating margin was at 39.4 percent versus 44.7 percent, YoY.

At 1234 hours, Sun Pharmaceutical Industries was quoting at Rs 422.85, up Rs 5.35, or 1.28 percent, on the BSE.