Lupin shares dip nearly 2 pc after Q4 earnings

Shares of drug firm Lupin today fell by nearly 2 per cent after the company reported over 49 per cent dip in consolidated net profit for the fourth quarter ended March.
The stock declined by 1.71 per cent to close at Rs 1,227.65 on BSE. During the day, it dipped 6.47 per cent to Rs 1,168.10 -- its 52-week low.
On NSE, shares of the company dropped 1.76 per cent to end at Rs 1,228.50.
The company's market valuation fell by Rs 951.6 crore to Rs 55,449.40 crore.
On the volume front, 3.39 lakh shares of the company were traded on BSE and over 40 lakh shares changed hands on NSE during the day.

Lupin today reported over 49 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March, mainly on account of increase in expenses and impact of foreign exchange fluctuation.
The company had posted a net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal.
However, consolidated total revenue from operations rose to Rs 4,253.30 crore for the quarter under consideration as against Rs 4,197.42 crore for the same period year ago.