Sudarshan Pharma Industries Limited’s September-quarter filing showed growth in standalone revenue and profit, while Mint reported an Oct. 30 share decline that put analysts’ price levels in focus.
The company’s board approved unaudited standalone and consolidated results for the quarter and half year ended Sept. 30 at a meeting on Oct. 29, according to its filing with the BSE.
Standalone revenue from operations reached ₹20,501.80 lakh (₹205.02 crore), compared with ₹16,700.63 lakh (₹167.01 crore) in the year-ago quarter. Net profit rose to ₹779.51 lakh (₹7.80 crore) from ₹440.03 lakh (₹4.40 crore).
Mint reported that the shares opened at ₹39 on Oct. 30 and fell to an intraday low of ₹34.65. The outlet also reported that the stock had recently rallied around its quarterly results and move to the National Stock Exchange of India’s main board.
Market expert Anuj Gupta, who is registered with the Securities and Exchange Board of India (SEBI), told Mint that the rise before the results had already accounted for the quarterly performance. He described the subsequent selling as profit-taking and also cited valuation and interest costs.
Ojha discussed the stock’s technical outlook in comments reported by Mint.
Trading on the National Stock Exchange began Oct. 27 under the symbol SUDARSHAN, according to the exchange’s listing record.
