Share price of Lupin falls on Sensex as profit disappoints

Pharma major Lupin has recorded a standalone net profit of Rs 699.9 crore for the quarter ended June 30, 2015 as against Rs 1016.7 crore for the same period last year.

The company said that its expenses rose to Rs 1740 crore from 1632.6 crore in June quarter of last year even as its total income fell to Rs 2595 crore from Rs 3002 crore a year earlier.

On consolidated terms, Lupin’s net profit fell to Rs 525 crore from Rs 624.74 crore earlier.

Its expenses rose to Rs 2434.2 crore as against Rs 2334.6 crore in the corresponding quarter last year.

Total income, on a consolidated basis, fell to Rs 3150.2 crore from Rs 3340.8 crore.

The stock price of Lupin reacted negatively to the news and it fell over 5%.

At the time of writing this report, Lupin’s shares were trading at Rs 1729.15 per share, down Rs 94.90, or 5.20% on the Bombay Stock Exchanges (BSE) Sensex.