Lupin posts poor bottom-line in Q3FY18
Leading pharmaceutical company Lupin posted poor performance in its latest quarterly results. The top-line and bottom-line declined substantially for the quarter.
The consolidated revenue for the quarter also declined 11 per cent yoy and marginally rose by 0.6 per cent to Rs. 3,975 crore as compared to Rs. 4,483 crore in the previous year's corresponding quarter.Further, the EBITDA for the quarter declined by 6.4 per cent yoy to Rs. 1,047 crore in Q3FY18 as compared to Rs. 1,119 crore in previous year corresponding quarter. The margin for the quarter expanded by 140 bps to 26.3 per cent compared to 25 per cent in previous year corresponding quarter. This was largely due to lower employee benefit expenses.
The bottom-line for the quarter declined substantially by 65 per cent yoy to Rs. 222 crore in Q3FY18 as compared to Rs. 635 crore in previous year corresponding quarter.
Lupin’s North America sales grew by 5.2 per cent to Rs. 1,432 crore. during Q3 FY2018 compared to Rs. 1,361 crore during Q2FY18 and decreased by 34.2 per cent compared to Rs. 2,175 crore during Q3 FY17; accounting for 37 per cent of Lupin’s global sales.
The stock of Lupin declined 5.9 per cent and closed at Rs. 801 per share on Tuesday