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Lupin shares tank nearly 5 pc, m-cap dips by Rs 1,771 cr after Q1 earnings

The stock dropped 4.53 percent to end at Rs 825.85 on the BSE. Intra-day, it slumped 5.42 per cent to Rs 818.10.


PTI 08 Aug 2018, 12:25 PM India

Shares of Lupin today plunged nearly 5 percent after the company reported 43.37 percent decline in its consolidated net profit for the first quarter ended June 30.

The stock dropped 4.53 percent to end at Rs 825.85 on the BSE. Intra-day, it slumped 5.42 percent to Rs 818.10.

On the NSE, shares of the company declined 4.73 percent to close at Rs 825.55.

The company's market valuation plunged Rs 1,770.92 crore to Rs 37,341.08 crore.

In terms of equity volume, 8.44 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.

Drug firm Lupin today reported 43.37 percent decline in its consolidated net profit at Rs 202.76 crore for the first quarter ended June 30, hit by a drop in sales in the US and Japan.

The company had posted a net profit of Rs 358.08 crore in the April-June quarter of 2017-18.

Income from operations declined to Rs 3,774.57 crore for the first quarter as compared with Rs 3,806.83 crore in the same period of the previous fiscal.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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