Lupin shares fall over 4% after company's Q2 net profit dropped 41.5%

Shares of Lupin Thursday fell by over 4 per cent after the drug maker reported a 41.5 per cent decline in its consolidated net profit for the second quarter ended September 2018.

The stock dropped 4.13 per cent to end at Rs 852.20 on the BSE. Intra-day, it declined 4.49 per cent to Rs 849.

On the NSE, shares of the company declined by 3.89 per cent to close at Rs 851.

Lupin Wednesday reported a 41.5 per cent decline in its consolidated net profit at Rs 266 crore for the second quarter ended September 2018 as sales slipped in the US market.

The Mumbai-based company had reported a net profit of Rs 4.55 billion for the July-September period of 2017-18.

Sales for the quarter increased marginally to Rs 38.9 billion as compared to Rs 38.74 billion in the corresponding period of last fiscal, Lupin said in a regulatory filing.