 "Lupin rallies 10% from day’s low as Q3 profit beats estimates")
Lupin has moved higher by 7% to Rs 1,764, bouncing back 10% from intra-day low of Rs 1,603 on the BSE, after the company a better-than-expected net profit of Rs 530 crore against an average analysts estimates of Rs 475 crore for the quarter ended December 2015 (Q3FY16).
The drug maker had profit of Rs 601 crore in the year ago quarter and Rs 409 crore in previous quarter.
Net sales grew by 6.8% Rs 3,358 crore against Rs 3,145 crore in the corresponding quarter of previous year. Analysts on an average expected revenues of Rs 3,348 crore for the quarter.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved by nearly 600 basis points sequentially at 28.1% in Q3FY16 against 22.5% in Q2FY16.
"Sequentially the quarter has improved significantly and this will get much better going forward. The quarter saw a significant pick up in approvals as well as product launches with us clocking in good growth in the US, India and Japan. We continue our investments in research as well as our manufacturing operations and this will drive long-term growth," said Mr. Nilesh Gupta, Managing Director, Lupin.
At 02:45 PM, the stock was up 6.7% at Rs 1,763 on the BSE. The trading volumes on the counter jumped more than five-fold with a combined 3.01 million shares changed hands on the BSE and NSE.
The drug maker had profit of Rs 601 crore in the year ago quarter and Rs 409 crore in previous quarter.
Net sales grew by 6.8% Rs 3,358 crore against Rs 3,145 crore in the corresponding quarter of previous year. Analysts on an average expected revenues of Rs 3,348 crore for the quarter.
Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved by nearly 600 basis points sequentially at 28.1% in Q3FY16 against 22.5% in Q2FY16.
"Sequentially the quarter has improved significantly and this will get much better going forward. The quarter saw a significant pick up in approvals as well as product launches with us clocking in good growth in the US, India and Japan. We continue our investments in research as well as our manufacturing operations and this will drive long-term growth," said Mr. Nilesh Gupta, Managing Director, Lupin.
At 02:45 PM, the stock was up 6.7% at Rs 1,763 on the BSE. The trading volumes on the counter jumped more than five-fold with a combined 3.01 million shares changed hands on the BSE and NSE.
