1. Lupin’s Q2 net beats analysts’ expectations, sales fall short

Lupin’s Q2 net beats analysts’ expectations, sales fall short

Lupin’s second-quarter profit beat analyst estimates, However, sales fell...

By: | Published: October 29, 2014 1:00 AM

Lupin’s second-quarter profit beat analyst estimates, However, sales fell a bit short of Street expectations. The company attributed the muted sales growth to antibiotics being a significant proportion of its product mix — which witnesses a pickup during the flu season in the US from October to March.
It reported a profit of R630 crore on sales of R3,116.8 crore for the quarter ended September 30 against the  analysts’ expectation of a profit of R580 crore on sales of R3,330 crore, according to a Bloomberg poll.
Sales grew 18.4% y-o-y while profit registered an increase of 55.1%.
Manufacturing and other expenses reduced 3.7% y-o-y to 296.7% of net sales and stood at R832.2 crore for the quarter.

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