Lupin slips 6% post Q4 results; 3 USFDA observations for Aurangabad unit

The stock dipped 6 per cent to Rs 736 on Thursday, extending its previous day's 3 per cent declined on the BSE.

Lupin shares dipped 6 per cent to Rs 736 on Thursday, extending its previous day’s 3 per cent decline on the BSE, after the drug company reported lower-than-expected net profit of Rs 290 crore for March quarter (Q4FY19).  Analysts, on an average, had expected profit of Rs 455 crore for the quarter.

Lupin on Wednesday, May 15 after market hours said it has received three observations from the US health regulator for its Aurangabad-based manufacturing facility.

The US Food and Drug Administration (USFDA) carried out the inspection at the plant from May 6 to May 15, Lupin said