Lupin extends gains post robust Q2 outcome

Lupin gained 1.67% to Rs 1,534.50 at 15:00 IST on BSE after consolidated net profit jumped 57.75% to Rs 662.19 crore on 27.45% rise in total income to Rs 4317.62 crore in Q2 September 2016 over Q2 September 2015.

The result was announced during market hours today, 9 November 2016.

Meanwhile, the S&P BSE Sensex was down 371.28 points or 1.35% at 27,219.86.

High volumes were witnessed on the counter. On BSE, so far 3.63 lakh shares were traded in the counter as against average daily volume of 1.17 lakh shares in the past one quarter. The stock hit a high of Rs 1,563.10 and a low of Rs 1,383.50, so far during the day. The stock had hit a 52-week high of Rs 1,911.55 on 9 February 2016. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock outperformed the market over the past one month till 8 November 2016, gaining 0.7% compared with 1.67% fall in the Sensex. The scrip however underperformed the market in past one quarter, dropping 10.84% as against Sensex's 2.1% fall.

The large-cap company has equity capital of Rs 90.25 crore. Face value per share is Rs 2.

Commenting on the results, Nilesh Gupta, Managing Director, Lupin said that the company continues to invest ahead of the curve be it research or manufacturing. The Q2 September 2016 profit was impacted on account of higher research spend and forex, he added. Investment in research for the quarter was 13.6% of sales at Rs 571.60 crore.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (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.

Powered by Capital Market - Live News