Bengaluru: Drugmaker Lupin Ltd posted a 43% fall in first-quarter profit on Wednesday, widely missing analysts’ estimates. Lupin’s net profit was 203 crore in the quarter ended 30 June, compared with a profit of 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 3,856 crore.

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