Latest News | Lupin Q3 Profit Slumps 72 Pc to Rs 153 Cr
Get latest articles and stories on Latest News at LatestLY. Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022.
New Delhi, Feb 10 (PTI) Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022.
The company had reported a net profit of Rs 545 crore for October-December period last fiscal.
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Total revenue from operations however increased to Rs 4,322 crore as compared with Rs 4,161 crore in the year-ago period, the company said in a statement.
"Sales in the US have improved on the back of new product launches and the brand acquisition we made during the quarter. Excluding the impact of genericization on our diabetes portfolio, the India business has performed in line with the market," Lupin's Managing Director Nilesh Gupta stated.
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With the recent sales force expansion and new product launches, the company expects to be back to above-market growth, he added.
Shares of the company were trading 3.74 per cent down at Rs 745.10 apiece on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)