Lupin Q4 net profit at ?289 crore, misses estimates

Drugmaker Lupin swung to a profit in the fourth quarter ended March 31 but it missed the Street’s estimates. Q4 net profit came in at ?289.6 crore as compared to ?783.5 crore loss in the same quarter of the previous year.

Revenues for Q4 increased to ?4,406.3 crore in March quarter as compared to ?4,033.8 crore in the year-ago quarter.

Shares of Lupin were down 2.5% at ?788.75 in late trade.

North America sales in FY2019 were ?5,592.4 crore, as compared to ?5,893.9 crore in FY2018, accounting for 34% of global sales. In Q4 of FY2019, North America sales increased by 22.8% to ?1740.6 crore, an increase of 16.1% as compared to Q4 FY2018.

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