OPEN APP
Home >Companies >Lupin Q3 profit rises 26% to Rs601.5 crore

Mumbai: Drug maker Lupin Ltd on Tuesday said net profit during the December quarter rose 26.3% to 601.5 crore from 476.1 crore in the year-ago quarter. Sales grew 5.4% to 3,144.9 crore during the same period.

“Our continued focus on improving operational efficiencies has led to sustained margins and profit growth, notwithstanding regulatory delays that have resulted in pressures on the topline," said Nilesh Gupta, managing director, Lupin.

The performance for the three quarters taken as a whole is more representative of the growth enjoyed by the company, Gupta added.

However, a stock analyst said Lupin’s results were below expectations, primarily led by lower than expected sales.

“The company’s sales at 31.78 billion was 6.1% lower than our expectations primarily impacted by flat growth in US and currency devaluation in Japan and South Africa," said Hitesh Mahida, pharma stock analyst with Antique Stock Broking Ltd.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout