Shares of drug firm Lupin today tumbled over 5 per cent after the company reported a 15.96 per cent dip in consolidated Net profit for the quarter ended June, 2015.
The stock dipped 5.23 per cent to Rs 1,728.60 on the BSE. During the day, it lost 5.92 per cent to Rs 1,716.
The stock was the top loser among the 30-blue-chip Sensex components.
At the NSE, shares of the company slipped 5.24 per cent to Rs 1,728.25.
The company’s market valuation declined by Rs 4,293.91 crore to Rs 77,767.09 crore.
“For Q1 FY16, the company announced numbers lower than expected,” said Sarabjit Kour Nangra, VP Research – Pharma, Angel Broking.
Lupin today reported a 15.96 per cent dip in consolidated Net profit at Rs 525.02 crore for the April-June quarter, mainly on account of decline in its overseas sales.
The company had posted a Net profit, after taxes and minority interest, of Rs 624.74 crore for the corresponding period of the previous fiscal, Lupin said in a filing to BSE.
Consolidated total income from operations also witnessed a decline to Rs 3,150.23 crore during the quarter under review as against Rs 3,340.82 crore for the same period a year ago.
The company’s revenue within India rose to Rs 993.56 crore for the June quarter from Rs 865.11 crore during the year-ago period.
The revenue from its operations outside India declined to Rs 2,156.67 crore during the quarter as against Rs 2,475.71 crore in the corresponding period of the previous fiscal, Lupin said.