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Lupin posts surprise Q4 loss on one-time charge


(Reuters) - Lupin Ltd, India's second-largest drugmaker by revenue, reported a surprise quarterly loss on Tuesday due to a one-time charge related to the acquisition of U.S.-based Gavis Pharmaceuticals LLC.Shares of the company briefly hit their lowest since May 2013 after the results, and closed 0.5 percent lower.Net loss was 7.84 billion rupees ($115.57 million) for the fiscal fourth quarter ended March 31, compared with a profit of 3.80 billion rupees a year earlier and an estimate of 3.20 ...

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First Published: Tue, May 15 2018. 15:59 IST