Lupin Q1 profit down 43%, misses estimates

Lupin Q1 profit down 43%, misses estimates

Lupin’s total revenue from operations declined marginally to Rs 3,856 crore.

Lupin’s total revenue from operations declined marginally to Rs 3,856 crore.

Bengaluru: Drugmaker Lupin Ltd posted a 43% fall in first-quarter profit on Wednesday, widely missing analysts’ estimates. Lupin’s net profit was Rs 203 crore in the quarter ended 30 June, compared with a profit of Rs 358 crore a year earlier, Lupin said.

Analysts on average had expected a profit of 3.51 billion rupees, according to Thomson Reuters I/B/E/S.

Total revenue from operations declined marginally to Rs 3,856 crore.

At 2.15pm, Lupin shares fell as much as 2.03 to Rs 842.30.

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