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| Q4 nos, stake hike plan fail to boost Lupin |
| BS Reporter / Mumbai May 14, 2009, 16:02 IST |
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Lupin finally settled at Rs 749, down over 4%. The stock witnessed trades of 206,986 shares today on the BSE.
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Updated at 1042 Hrs
Lupin has slumped 5.5% inspite of positive Q4 results.
The stock opened at Rs 770, down Rs 14. It touched a high of Rs 792 but slipped to the low of Rs 720.
The stock is now trading at Rs 739, down 5.5%. The counter has witnessed trading of 85,802 shares so far on the BSE.
According to a release issued by the company, the consolidated net profit has surged 64% to Rs 157.38 crore in the quarter ended March, 2009 from Rs 95.87 crore in the corresponding quarter a year ago. The total income has increased 37% to Rs 1,069 crore in Q4FY09 from Rs 783.17 crore in Q4FY08.
Further, the company's board has recommended an annual dividend of Rs12.50 (125%) per equity share with a face value of Rs 10.
The company also plans to increase its stake in a major generic Australian drug supplier, Generic Health Pty, to over 50%.
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