Lupin slides to 52-week low after weak Q4 results

Lupin lost 1.12% to Rs 1,234.95 at 15:12 IST on BSE after consolidated net profit fell 49.16% to Rs 380.21 crore on 1.33% growth in total revenue from operations to Rs 4253.30 crore in Q4 March 2017 over Q4 March 2016.

The result was announced during market hours today, 24 May 2017.

Meanwhile, the S&P BSE Sensex was down 69.18 points or 0.23% at 30,296.07.

On the BSE, 3.14 lakh shares were traded on the counter so far as against the average daily volumes of 78,586 shares in the past one quarter. The stock hit a high of Rs 1,275.75 so far during the day. The stock hit a low of Rs 1,168.10 so far during the day, which is a 52-week low. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016.

During Q4 March 2017, the company made a provision for liability towards its Australian subsidiary amounting to Rs 155.90 crore in respect of compensation for patent litigation towards its Isabelle generic launch in Australia.

Nilesh Gupta, Managing Director, Lupin, said that the company had a stellar year with a strong double-digit growth across all its regions. Steady progress on its complex generic pipeline, its impeccable record of compliance and focus on operational excellence will help sustain its growth momentum in the mid to long-term, he added.

Lupin is a pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally.

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