Companies

Lupin Q4 net up 48%; beats estimates

Reuters Mumbai | Updated on January 20, 2018 Published on May 19, 2016

Lupin Ltd, India's third-largest drugmaker, has reported a 48 per cent rise in quarterly net profit, outpacing analysts’ estimates mainly due to higher drug sales in its largest market, the United States.

Net profit for the January-March quarter was Rs 807 crore ($119.91 million), compared with Rs 547 crore a year earlier. Analysts polled by Thomson Reuters expected an average profit of Rs 678 crore.

Lupin has benefitted in recent months from a steady pace of new drug approvals in the United States at a time when most of its peers have been facing delays in getting approvals due to regulatory troubles.

Published on May 19, 2016
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