Drugmaker Lupin Ltd reported its quarterly net profit nearly halved from a year ago, falling far short of analysts' expectations, as sales at its top market the United States slumped while the company's costs jumped. The Mumbai-based firm posted a net profit of Rs 380 crore ($58.63 million) for the fourth quarter ended March, below Rs 748 crore a year ago. Manufacturing costs and other expenses for the world's No.7 generic drugs maker rose about 30% in the quarter, during which Lupin worked on upgrading its Goa manufacturing plant that is under US Food and Drug ...
Lupin's Q4 net profit nearly halves to Rs 380 cr as US sales slump 13%
Manufacturing costs and other expenses rose about 30% in the quarter