Lupin Q4 profit nearly halves to Rs 380.21 crore on strengthening rupee

Drug major Lupin on Wednesday reported a consolidated profit of Rs 380.21 crore for the quarter ended March 31 against a Rs 635 crore estimate analysts had made in an ETNow poll.

The company had posted a profit of Rs 747 crore for the corresponding quarter last year. The drug firm said its revenue for the quarter came in at Rs 4,253.30 crore against Rs 4,366 crore projected in the ET Now poll.

Net impact of foreign exchange fluctuation on Ebitda was a loss of Rs 168 crore during Q4 FY2017. Ebidta for the quarter stood at Rs 826 crore compared with an estimate of Rs 1,110 crore.

The company informed bourses that the board has recommended a dividend of Rs 7.50 per equity share of the face value of Rs 2 each for the year ended March 31, 2017.

Net impact of foreign exchange fluctuation on Ebitda was a loss of Rs 168 crore during Q4 FY2017.