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Indian pharmaceutical company Lupin posted their first quarterly report for current fiscal year with a net consolidated profit of Rs. 202.33 crore which is a 43.6% decrease in profit levels in comparison to Rs. 359.12 crore of previous fiscal year’s first quarter. Total revenue also declined 4.4% to Rs.3855.93 crore in the June end quarter against Rs. 4033.83 crore of the March end quarter of fiscal year 2018.
Although the revenue of the company witnessed a 2.9% hike from the standalone operations from Rs.2437.7 crore of previous year’s same period to Rs. 2512 crore of the current fiscal year quarter, with a 21.1% increase in PAT of Rs.426.48 crore.
The company issued a separate press release in which they described that the company’s sales in its largest market, USA, dropped by 26%. Also the warning letters to two of its facilities in Goa and Indore worsen its case.
Lupin’s stock prices fell 4.7% during the Wednesday trading session.
