Lupin fourth quarter profit up 48%, beats estimates

Company reported a net profit of Rs 807 crores for the January-March quarter

Lupin Ltd, India's third-largest drugmaker, reported a 48% rise in quarterly net profit, outpacing analysts' estimates mainly due to higher drug sales in its largest market, the United States.

Net profit for the January-March quarter was Rs 807 crores ($119.91 million), compared with Rs 547 crores a year earlier. Analysts polled by Thomson Reuters expected an average profit of Rs 678 crores.

Lupin has benefitted in recent months from a steady pace of new drug approvals in the United States at a time when most of its peers have been facing delays in getting approvals due to regulatory troubles.

 

($1 = 67.3000 Indian rupees)