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Lupin's Q4 net profit nearly halves to Rs 380 cr as US sales slump 13%

Manufacturing costs and other expenses rose about 30% in the quarter

Reuters  |  Mumbai 

Drugmaker Lupin Ltd reported its quarterly net profit nearly halved from a year ago, falling far short of analysts' expectations, as sales at its top market the United States slumped while the company's costs jumped. The Mumbai-based firm posted a net profit of Rs 380 crore ($58.63 million) for the fourth quarter ended March, below Rs 748 crore a year ago. Manufacturing costs and other expenses for the world's No.7 generic drugs maker rose about 30% in the quarter, during which Lupin worked on upgrading its Goa manufacturing plant that is under US Food and Drug ...

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First Published: Wed, May 24 2017. 15:55 IST