 "Lupin gets US FDA nod for antibacterial drug azithromycin suspension")
Lupin hit 52-week low of Rs 782, down 2.5% in intra-day trade, extending previous day’s 6% decline on BSE, after the pharmaceutical company reported a weak set of numbers for the quarter ended December 2017 (Q3FY18).
Net profit of the company during the quarter decreased 51.3% year on year at Rs 2.22 billion in Q3FY18. Sales for the quarter declined by 11.5% to Rs 440 billion over the previous year quarter.
EBITDA (earnings before interest, tax, depreciation and amortization) margin stood at 18.4% in Q3FY18 against 23.9% in Q3FY17.
The company said the quarterly performance was muted
Net profit of the company during the quarter decreased 51.3% year on year at Rs 2.22 billion in Q3FY18. Sales for the quarter declined by 11.5% to Rs 440 billion over the previous year quarter.
EBITDA (earnings before interest, tax, depreciation and amortization) margin stood at 18.4% in Q3FY18 against 23.9% in Q3FY17.
The company said the quarterly performance was muted
