Lupin slips 9%, hits 2-year low on disappointing March quarter results

Lupin's performance was skewed on revenues front amid US and India posting lower than expected sales while RoW and South Africa saw better than anticipated traction this quarter.

Shares of Lupin hit two-year low of Rs 622 after they fell 9 per cent on the BSE in Thursday's intra-day on the back of a disappointing set of numbers for March quarter (Q4FY22). The pharmaceutical company reported a consolidated loss of Rs 512 crore, on higher manufacturing cost as against a consolidated profit of Rs 464 crore in the year-ago quarter (Q4FY21) and Rs 549 crore in the previous quarter (Q3FY22).

The stock was at its lowest level since April 2020. At 09:18 am, it was 7 per cent lower at Rs 635.25, as compared to 1.9 per