Lupin shares rose more than 8% intraday on November 10, the day after the company reported its earnings and turned a profit in the quarter ending September 2022.

Lupin recorded a net profit of Rs 129.7 crore in the quarter, compared to a loss of Rs 2,098 crore a year ago. Corporate revenue is up 1.3% to Rs 4,145.5 crore compared to Rs 4,091.3 crore a year ago.

Research firm Macquarie maintained an outperform rating on the stock with a target price of Rs 790 per share. The profitability of online revenue is missing, missing due to a lack of cost savings. EBITDA and profits fell 14% and 45%, respectively, according to CNBC-TV18.

Brokerage firm Nomura maintained a buy rating on the stock with a target price of Rs 863 per share. Second-quarter sales and EBITDA beat expectations by 2.8%/11.7%. Its net income missed estimates by 12%.

According to CNBC-TV18, management expects an EBITDA margin of 18% by the end of FY23. At 9:58 am, Lupin was quoted at Rs 729.45 on the BSE, up Rs 35.40 or 5.1%.