Lupin Q4 profit soars 47% on US biz despite 65% rise in R&D cost
Lupin's fourth quarter earnings surpassed analysts' expectations on Thursday with consolidated profit soaring 47.5 percent to Rs 807 crore compared to year-ago period, driven by strong international as well as domestic business despite sharp spike in tax cost. Revenue in Q4 increased 35.9 percent to Rs 4,181.2 crore with international business rising 41.1 percent (to Rs 3,305.7 crore) and India growing 19 percent (to Rs 875.5 crore) compared to corresponding period of last fiscal, the pharma major said in its filing.
Lupin's fourth quarter earnings surpassed analysts' expectations on Thursday with consolidated profit soaring 47.5 percent to Rs 807 crore compared to year-ago period, driven by strong international as well as domestic business despite sharp spike in tax cost. Revenue in Q4 increased 35.9 percent to Rs 4,181.2 crore with international business rising 41.1 percent (to Rs 3,305.7 crore) and India growing 19 percent (to Rs 875.5 crore) compared to corresponding period of last fiscal, the pharma major said in its filing.
Both Crude Oil August and Brent Oil September series have moved down 0.5 percent each at $ 45.43 and $ 47.12 a barrel, respectively.
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Asian markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.13% while the Hang Seng is down 0.74%.
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