Sun Pharmaceutical Industries Ltd., India’s biggest drugmaker by market value, rose in Mumbai after reporting second-quarter profit rose 12 percent, beating analysts’ estimates, on higher demand for generic medicines.
The shares climbed as much as 3.3 percent and changed hands at 2,170.1 rupees at 9:16 a.m. local time.
Net income increased to 5.04 billion rupees ($113 million) in the three months ended Sept. 30 from 4.5 billion rupees a year earlier, the Mumbai-based company said in a statement Oct. 30.
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