Lupin logs net loss of Rs 512 cr in Q4 on rising costs, impairment expense

Quarter was challenging due to 'headwinds in the US on account of price erosion', says company.

Pharma major Lupin posted a net loss of Rs 511.9 crore for the fourth quarter of fiscal 2021-22 due to rising costs, price erosion in the US and impairment expense of Rs 126.7 crore for US-based Gavis.

Lupin had posted a net profit of Rs 464 crore in the corresponding quarter last fiscal.

Sales were up by 2.8 percent YoY to Rs 3,864.5 crore. EBITDA for the quarter was down 63 percent to Rs 282 crore.

For the full year, Lupin posted a net loss of Rs 1,509 crore compared to a net profit of Rs 1226 crore in FY21. Sales for the