New Delhi, May 25 (PTI) Continuing to fall for the second Also Read - Lupin gets USFDA nod for generic version of Tadalafil tablets
straight session today on earnings disappointment, shares of Also Read - Lupin gets 6 observations from USFDA for its Pithampur Unit-2
drug firm Lupin today ended the day over 7 per cent lower, Also Read - Lupin gets European Commission nod for myotonia treatment drug
wiping out Rs 5,003 crore from its market valuation in two
The stock tumbled 7.31 per cent to settle at Rs 1,137.95
on BSE. During the day, it dived 9.74 per cent to Rs 1,108 —
its 52-week low.
On NSE, shares of the company tanked 7.18 per cent to end
at Rs 1,140.20.
The stock was the worst performer among the Sensex and
On the volume front, 5.11 lakh shares of the company were
traded on BSE and over 83 lakh shares changed hands on NSE
during the day.
Shares of Lupin had yesterday fallen by nearly 2 per cent
after results were announced, eroding Rs 5,003.09 crore from
its market valuation in two days.
“The company for Q4 FY17, posted results much below
expectations mainly on OPM and the net profit front,” said
Sarabjit Kour Nangra, VP Research Pharma, Angel Broking.
Lupin yesterday reported over 49 per cent dip in
consolidated net profit to Rs 380.21 crore for the fourth
quarter ended March, mainly on account of increase in expenses
and impact of foreign exchange fluctuation.
The company had posted a net profit of Rs 747.88 crore in
the corresponding quarter of previous fiscal.
However, consolidated total revenue from operations rose
to Rs 4,253.30 crore for the quarter under consideration as
against Rs 4,197.42 crore for the same period year ago. PTI
This is published unedited from the PTI feed.