This pharma company stock went 8 per cent high, do you own it?
With its shares up 8 per cent, the Indian multinational pharmaceutical company posted a net profit of Rs 130 crore in the second quarter, while its turnover increased to Rs 4,145 crore.
Lupine Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra, India. It is one of the world's largest generic drug companies by revenue, globally. The company's areas of focus include medicines for asthma, anti-tuberculosis, etc.
The quarterly consolidated financial results reveal that the operating profit for Q2FY23 was Rs 467.93 crore compared to a loss of Rs 1251.04 crore for Q2FY22. Net sales for Q2FY23 stood at Rs 4145.52 crore, recording a growth of 1.32 per cent compared to Rs 4091.33 crore in the same quarter last year. The company recorded a net profit of Rs 134.47 crore in the second quarter of FY2023 and posted a loss of Rs.209.489 crore in the second quarter of FY2022.
On an annual consolidated financial result, the company reported a positive performance on net sales with Rs 16,405.48 crore for FY22, zooming 8.18 per cent from the previous year's value of Rs 15,162.96 crore. The operating profit reached Rs 428.91 crore for FY22 compared to Rs 906.56 crore for FY21, which has decreased by 84.13 per cent. The net loss is Rs 1509.72 crore for FY22 compared to a net profit of Rs 1226.60 crore for FY21.
Lupin Limited is one of the top 10 pharmaceutical companies. Several environmental projects are planned for the rooftop 1500 KW in Nagpur and 400 KW in Ankleshwar by FY2023. The company also sent 60 per cent of the hazardous waste it generated to co-processing to cement plants. The company received USFDA tentative approval for doxycycline capsules and launched six brands in multiple therapies during the quarter. Today at 3:30 pm, at market close, the stock was up by 4.14 per cent to Rs 723. Investors should keep a close eye on this one.