Sun Pharmaceuticals Limited (Sun Pharma) reported strong quarterly performance. Sales for the quarter reported strong 15.9% y-o-y growth to Rs. 8,374.4 crore (10.5% above our estimate). Gross margin for the quarter stood at 70.7%. Operating profit grew by 13.7% y-o-y to Rs. 1,928.2 crore (17.5% above our estimate). Operating profit margin (OPM) for the quarter stood at 23% (137 BPS above our estimate). R&D; spend for the quarter was Rs. 422 crore (5.1% of sales). Reported profit for the quarter grew by 31.4% y-o-y to Rs. 1,387.5 crore (21.5% above our estimate). Low interest...