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Lupin surges 7% post September quarter earnings

The stock has moved higher by 7% to Rs 1,074 after the company reported a consolidated net profit of Rs 455 crore in Q2FY18

SI Reporter  |  Mumbai 

Lupin gets US FDA nod for antibacterial drug azithromycin suspension

rose 7% to Rs 1,074 on the BSE after the pharmaceutical company reported a consolidated net profit of Rs 455 crore for the quarter ended September 2017 (Q2FY18). The analyst an average had expected profit of Rs 433 crore for the quarter. Net profits for the quarter decreased by 31.3% compared to Rs 662 crore in Q2FY17. Operational revenue of the company during the quarter however, declined by 8% at Rs 3,952 crore in Q2FY18 against Rs 4,291 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved on sequential basis with 23.9% in Q2FY18 from 21% in Q1FY18.

It was 25.1% in Q2FY17. The Company launched 5 products in the US market during the quarter. The Company now has 147 products in the US generics market, said in a press release.

First Published: Mon, October 30 2017. 14:29 IST