Shares of drug firm Lupin today plunged nearly 8 per cent after the company reported over 49 per cent dip in consolidated net profit for the fourth quarter ended March. The stock after making a weak opening, further slumped 7.65 per cent to hit its one year low of Rs 1,133.70 on BSE.
On NSE, it plunged 7.73 per cent to Rs 1,133.50 — its 52-week low. Shares of Lupin had yesterday fallen by nearly 2 per cent after results were announced.
Lupin yesterday reported over 49 per cent dip in consolidated net profit to Rs 380.21 crore for the fourth quarter ended March, mainly on account of increase in expenses and impact of foreign exchange fluctuation.
The company had posted a net profit of Rs 747.88 crore in the corresponding quarter of previous fiscal.
However, consolidated total revenue from operations rose to Rs 4,253.30 crore for the quarter under consideration as against Rs 4,197.42 crore for the same period year ago.