Q4 nos, stake hike plan fail to boost Lupin

Lupin finally settled at Rs 749, down over 4%. The stock witnessed trades of 206,986  shares today on the BSE.
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Updated at 1042 Hrs

Lupin has slumped 5.5% inspite of positive Q4 results.

The stock opened at Rs 770, down Rs 14. It touched a high of Rs 792 but slipped to the low of Rs 720.

The stock is now trading at Rs 739, down 5.5%. The counter has witnessed trading of 85,802 shares so far on the BSE.

According to a release issued by the company, the consolidated net profit has surged 64% to Rs 157.38 crore in the quarter ended March, 2009 from Rs 95.87 crore in the corresponding quarter a year ago. The total income has increased 37% to Rs 1,069 crore in Q4FY09 from Rs 783.17 crore in Q4FY08.

 

Further, the company's board has recommended an annual dividend of Rs12.50 (125%) per equity share with a face value of Rs 10.

The company also plans to increase its stake in a major generic Australian drug supplier, Generic Health Pty, to over 50%.