Sun Pharma shares drop over 3% on disappointing earnings in Jul-Sep quarter

New Delhi: Shares of Sun Pharmaceutical Industries on Wednesday fell by over 3 percent after the company reported a 59.19 percent decline in consolidated net profit for the September quarter.[caption id="attachment_4211009" align="alignleft" width="380"] Representational image. Getty[/caption]The stock slipped 3.29 percent to Rs 508.80 on the BSE.At the NSE, it fell 3.32 percent to Rs 508.55.Pharma major Sun Pharmaceutical Industries on Tuesday reported a 59.19 percent drop in consolidated net profit to Rs 912.12 crore for the September quarter, mainly on account of degrowth in the US sales.The company had posted a net profit of Rs 2,235.14 crore for the corresponding period of the previous fiscal, Sun Pharma said in a BSE filing.Consolidated total revenue from operations stood at Rs 6,650.34 crore. It was Rs 8,260.11 crore in the same period of the previous year.