Lupin hits 33-month low on weak Q4 results

It past two months, the stock underperformed the market by falling 24% against 3% rise in Sensex.

Shares of Lupin dipped 7.7% to Rs 1,134, its lowest level since August 2014 on BSE in early morning trade, after the company’s quarterly net profit nearly halved to Rs 380 crore in March quarter (Q4FY17) from a year ago. The pharmaceutical company had reported net profit of Rs 748 crore in a year ago quarter.

Total revenue from operations during the reporting quarter grew marginally by 1% at Rs 4,253 crore against Rs 4,197 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, tax, depreciation and amortization) margin declined to 19.9% from 32.8%.

“Net