BackLupin posts surprise Q4 loss at Rs784 crore on one-time charge
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15 May 2018, 03:25 PM IST
Lupin's net loss for the fourth quarter came in at Rs784 crore compared with a profit of Rs380 crore a year earlier
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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.
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Published: 15 May 2018, 03:25 PM IST
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