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Shares of drug firm Lupin today ended nearly 3 per cent higher even as the company posted 31.3 per cent decline in consolidated net profit for the September quarter.
The stock gained 2.67 per cent to end at Rs 1,027.55 on BSE. During the day, it rose 8.90 per cent to Rs 1,090.
The stock was the biggest gainer among the 30-share components.
At NSE, shares of the company jumped 2.48 per cent to close at Rs 1,025.95.
In terms of equity volume, 7.35 lakh shares of the company were traded on BSE and over 81 lakh shares changed hands at NSE during the day.
“The company posted lower-than-expected sales, while EBDITA and net profit came in higher than expected,” said Sarabjit Kour Nangra, VP Research-Pharma, Angel Broking.
Lupin today posted 31.3 per cent decline in consolidated net profit to Rs 455 crore for the September quarter as it continued to face pricing pressure in the US market.
The Mumbai-based company had reported a net profit of Rs 662.2 crore for the July-September period of the last fiscal.
Net sales of the company stood at Rs 3,874.2 crore for the second quarter of 2017-18, down 8 per cent from Rs 4,211.2 crore in the year-ago period.
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