Lupin slips 5%, nears 52-week low post December quarter results

The company reported lower-than-expected margins and net profit in December quarter due to one-time expenses related to residual metformin returns and provision for aged stock returns of Oseltamivir.

Shares of Lupin dipped 5 per cent to Rs 859.50 on the BSE in Friday’s intra-day trade after the drugmaker reported lower-than-expected margins and net profit in December quarter (Q3FY22) due to one-time expenses related to residual metformin returns and provision for aged stock returns of Oseltamivir.

The stock of the pharmaceutical company was trading close to its 52-week low of Rs 854 touched on December 20, 2021. In the past six months, it has slipped 25 per cent, as compared to a 8 per cent rally in the S&P BSE Sensex.

In Q3FY22, Lupin’s earnings before interest