Mumbai: On 14th May, Shares of drug major Lupin fell over 3 percent, extending the previous session's fall after the company reported lower-than-expected earnings for the fourth quarter ended March 31.
The stock ended at Rs 1,632.80, down 3.42 percent on the BSE. During the day, it had slipped 5.98 percent to Rs 1,589.40.
On the NSE, it fell by 3.4 percent to settle at Rs 1,631.95.
The stock had lost over 3 percent yesterday. Lupin's market valuation has thus dipped by Rs 5,185.71 crore to Rs 73,440.29 crore in the past couple of sessions.
The company yesterday reported over 1 percent decline in consolidated net profit at Rs 547 crore for the fourth quarter ended March 31, hit by price erosion in the US and delay in product approvals.
It had posted a net profit of Rs 553 crore in the January -March period of the previous fiscal.
Net sales of the company were Rs 3,054.04 crore for the fourth quarter of 2014-15, as compared to Rs 3,051.55 crore in the year-ago period.
For the entire fiscal ended March 31, Lupin reported 30.86 percent increase in consolidated net profit at Rs 2,403.24 crore, as compared to Rs 1,836.37 crore in 2013-14.
Net sales of the company rose to Rs 12,599.71 crore last fiscal, as against Rs 11,086.64 crore in the previous fiscal.
