Lupin bounces on healthy Q1 numbers

Lupin gained 4.32% to Rs 783.35 at 14:45 IST on the BSE after consolidated net profit rose 49.46% to Rs 303.05 crore on 15.4% increase in net sales to Rs 4355.83 crore in Q1 June 2019 over Q1 June 2018.

The result was announced during market hours today, 7 August 2019.

Meanwhile, the S&P BSE Sensex was down by 119.05 points or 0.32% at 36,857.8.

On the BSE, 1.19 lakh shares were traded in the counter so far compared with average daily volumes of 67000 shares in the past two weeks. The stock had hit an intraday high of Rs 784 and an intraday low of Rs 748.55 so far during the day. The stock hit a 52-week high of Rs 986 on 10 Sept 2019 and a 52-week low of Rs 697.3 on 19 June 2019.

Investment in research and development rose 0.85% to Rs 378.5 crore (representing 8.7% of sales) in Q1 June 2019 as compared to Rs 375.3 crore (representing 9.9% of sales) in Q1 June 2018.

Commenting on the results, Nilesh Gupta, managing director, Lupin said, We are pleased with the robust all-round performance in our key markets, marking a healthy start for the fiscal year. This year is critical as we are committed to delivering on our strategic growth drivers, including commercialization of Complex Generics, ramp-up of our Specialty business and delivering on operational and cost efficiencies. Regulatory compliance remains a top organizational priority and we are making steady progress.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded and generic formulations, biosimilar products and APIs globally. The Company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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