Shares of Lupin crashed 7% on 7 May after the company announced its quarterly earnings for January-March. 

The drug maker reported a 52% year-on-year increase in its consolidated net profit at Rs 359.43 crore for the quarter under review from Rs 235.96 crore reported in the same quarter last year. 

The revenue of the company during the quarter stood at Rs 4,895.11 crore, marking a 13% YoY increase from Rs 4,330.3 crore reported in the same quarter of the previous fiscal year. 

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) during the quarter was up 66% YoY at Rs 1,026.1 crore from Rs 615 crore reported in Q4FY23. The EBITDA margins grew to 14.2% during the quarter from 11.5% during the year-ago period. 

Nilesh Gupta, Managing Director of Lupin Limited, said, “We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of the market.”

The company has a presence in research, manufacturing, and marketing of formulations and APIs. It. It is the third largest pharmaceutical player in the US by prescription and the seventh largest in IPM. 

At 2:30 pm, the shares of Lupin were trading 5.19% lower at Rs 1,592.50 on NSE.