Lupin shares dip 5%; mcap falls by Rs 3,823 cr post Q1 results

Shares of drug major Lupin today fell by 5 per cent even as the company reported a 55.12 per cent rise in consolidated net profit for the June quarter.
The scrip tanked 5.03 per cent to settle at Rs 1,607.60 on BSE. During the day, it dipped 5.59 per cent to Rs 1,598.
The scrip was the worst performer among the 30-Sensex bluechips.
At NSE, shares of the company lost 5 per cent to close at Rs 1,607.25.
The company's market valuation fell by Rs 3,823.28 crore to Rs 72,499.72 crore.
On the volume front, 7.76 lakh shares of the company were traded on BSE and over 74 lakh shares changed hands on NSE during the day.

Drug major Lupin today reported a 55.12 per cent rise in consolidated net profit to Rs 881.95 crore for the June quarter -- its best ever quarterly performance -- driven by robust growth in India, Japan and the US markets.

The Mumbai-based firm had posted a net profit of Rs 568.55 crore in the corresponding quarter of last fiscal.
Lupin's net sales on consolidated basis were also up 40.01 per cent to Rs 4,313.56 crore during the quarter under review as against Rs 3,080.87 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

Its expenses were at Rs 3,334.08 crore, up 37.05 per cent, during the quarter as against Rs 2,432.58 crore of the last fiscal.
Lupin Managing Director Nilesh Gupta said: "In keeping with the growth momentum, we continue to execute flawlessly and have delivered our best results to date."
Meanwhile, the BSE benchmark index ended the day with a loss of 97.41 points at 28,085.16.