Lupin shares drop 4 per cent after 41.5 per cent decline in profit
The stock dropped 4.13 per cent to end at Rs 852.20 on the BSE. Intra-day, it declined 4.49 per cent to Rs 849.
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Shares of Lupin Thursday fell by over 4 per cent after the drug maker reported a 41.5 per cent decline in its consolidated net profit for the second quarter ended September 2018.
The stock dropped 4.13 per cent to end at Rs 852.20 on the BSE. Intra-day, it declined 4.49 per cent to Rs 849.
On the NSE, shares of the company declined by 3.89 per cent to close at Rs 851.
Lupin Wednesday reported a 41.5 per cent decline in its consolidated net profit at Rs 266 crore for the second quarter ended September 2018 as sales slipped in the US market.
The Mumbai-based company had reported a net profit of Rs 455 crore for the July-September period of 2017-18.
Sales for the quarter increased marginally to Rs 3,890.9 crore as compared to Rs 3,874.2 crore in the corresponding period of last fiscal, Lupin said in a regulatory filing.
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