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LUPIN - Lupin News Story

₹1158.95 2.4  0.2%

Last Trade - 11:29am

Sector
Healthcare
Size
Large Cap
Market Cap £5.13bn
Enterprise Value £5.21bn
Revenue £1.48bn
Position in Universe 85th / 3115

BUZZ-Indian drugmaker Lupin falls as March-qtr sales drop

Fri 14th May, 2021 7:07am
** Indian drugmaker's  LUPN.NS  shares fall as much as 3.8%
to 1,166 rupees, their biggest intraday pct. loss since April 12
    ** LUPN on Thursday reported https://bit.ly/3ohDPG9
March-qtr consolidated sales fell 0.8% to 37.59 bln rupees
($512.31 mln)
    ** Co's North America sales fell 5.3%, while sales from
active pharmaceutical ingredients (API) segment were down 22.2%
- LUPN statement https://bit.ly/3uLaFBO
    ** "Lupin missed our revenue and EBITDA estimates for the
quarter on subdued performance across most geographies. U.S. was
impacted by a weak flu season as expected and API segment was
hit by demand weakness" - Jefferies, which maintains "hold"
rating on stock
    ** Several brokerages downgrade rating
    ** LUPN Q4 net profit after taxes attributable to co's
owners rose to 4.60 bln rupees from 3.90 bln a yr earlier,
helped by 8.8% fall in total expenses and a near 50% fall in
total tax expense
    ** Up to Wednesday's close, stock had risen 24.1% YTD vs an
8.9% rise in the Nifty Pharma Index  .NIPHARM  


($1 = 73.3740 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))
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