Lupin shares fall over 3% on disappointing Q4 earnings

MUMBAI: Shares of drug major Lupin today fell over 3 per cent after the company reported lower-than-expected numbers for the fourth quarter ended March 31.

The stock ended 3.35 per cent lower at Rs 1,690.60 on the BSE. During the day, it slipped 3.95 per cent to Rs 1,680.

At the NSE, it was down 3.36 per cent to settle at Rs 1,689.50.

"Lupin posted numbers below expectations," said Sarabjit Kour Nangra, VP Research - Pharma, Angel Broking.

Lupin today reported over 1 per cent decline in consolidated net profit at Rs 547 crore for the fourth quarter ended March 31, hit by price erosion in the US and delay in product approvals.

The company, which today re-appointed Desh Bandhu Gupta as Executive Chairman for five years effective January 1, 2016, had posted a net profit of Rs 553 crore in the January-March period of the previous fiscal.

Net sales of the company rose to Rs 3,054.04 crore for the fourth quarter of 2014-15, as compared to Rs 3,051.55 crore in the year-ago period.

For the entire fiscal ended March 31, Lupin reported 30.86 per cent increase in consolidated net profit at Rs 2,403.24 crore, as compared to Rs 1,836.37 crore in 2013-14.

Net sales of the company rose to Rs 12,599.71 crore last fiscal, as against Rs 11,086.64 crore in the previous fiscal.