Lupin gains on reporting good Q3 results

Mumbai-based pharmaceutical major, Lupin has gained over 1% at Rs 1,562 on the BSE after achieving a 26% growth in its net profit at Rs 602 crore for the third quarter ended 31st December, 2014, following a strong revenue growth from India operations.

Lupin's India formulations business grew by 14% recording net sales of Rs 743.8 crore during Q3 FY15, against Rs 650 crore in Q3 FY14.

The sales growth for the 9 months was 21%. Company's net sales grew by 5.4% to Rs 3,145 crore, up from Rs 2,983 crore in Q3 FY 2013-14.

The stock opened at Rs 1,555, touched a high of 1,567 and a low of Rs 1,550 on the BSE. Nearly 2,00,00 shares changed hands on the BSE and NSE by 11:20 AM.