Lupin posts surprise Q4 loss at Rs784 crore on one-time charge
Lupin’s net loss for the fourth quarter came in at Rs784 crore compared with a profit of Rs380 crore a year earlier
Bengaluru: Lupin Ltd, India’s second-largest drugmaker by revenue, reported a surprise loss in its fiscal fourth quarter on Tuesday, due to a one-time charge.
Net loss for the quarter ended 31 March came in at Rs784 crore ($115.57 million) compared with a profit of Rs380 crore a year earlier, it said in a statement.
Fifteen analysts on average expected a profit of Rs320 crore, according to Thomson Reuters data.
The company saw a one-time impairment charge of about Rs1,464 crore in relation to the Gavis group acquisition during the quarter.
- Fortis shareholders clear stake sale to IHH Healthcare
- Kotak Mahindra Bank’s preference share issue does not meet norms: RBI
- Tesla forms three-member panel to look at any Elon Musk deal
- Q1 results: Grasim net profit rises to Rs 1,116 crore
- Videocon Industries’ net loss widens to ₹2,874.21 crore in June quarter
Editor's Picks »
- BofA-ML survey: Short EM equity second most crowded trade
- GST-led shift from informal to formal sector happening, but at a snail’s pace
- Uncertain earnings for agricultural input firms despite bountiful rains
- PVR pays a premium for south
- Tata Steel’s Q1 supports India push but investors enquire at what cost