Stock Market today: Multibagger Lupin share price declined more than 4% in morning trades on Tuesday post Q4 earnings performance reported on Monday post market hours.
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For the twelve months ended March 2024, Lupin net profit at ₹1935.6 crore grew 332% over ₹447.7 Crore in FY23 .
It is this turnaround in earnings mainly led by the Lupin's growth in the US that has propelled Lupin's share price.
Lupin Share price has risen more than 120% in a year.
Stock Market today: Multibagger Lupin share price declined more than 4% in morning trades on Tuesday post Q4 earnings performance reported on Monday post market hours.
Lupin Ltd net profit for the quarter ending March at ₹359.4 Crore declined 41.4% sequentially over ₹613 crore in the December'2023 quarter. However on year on year basis the net profit was up 52.3% over ₹236 crore in the year ago quarter.
The expectations had remained high from Lupin Ltd on new launch momentum in the US lifting its earnings performance. While the North Americn sales at ₹1900.6 Crore contributing two third to overall revenues did grow 22.3% , on sequential basis the growth was just 0.6%.
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The Q4 domestic sales for Lupin at ₹1601.5 crore also declined 7.2% compared to ₹1725.1 Crore in Q3 FY2024 though were up 8.3% y-o-y compared to ₹1478.6 crore in Q4 FY2023; accounting for the third of Lupin’s global sales.
The impact on the net profit on sequential basis nevertheless was more due to an impairment of ₹149 crore taken by Lupin related to intangible assets.
The overall performance by Lupin for the financial year saw a significant improvement. For the twelve months ended March 2024, Lupin net profit at ₹1935.6 crore grew 332% over ₹447.7 Crore in FY23 .
It is this turnaround in earnings mainly led by the Lupin's growth in the US that has propelled Lupin's share price. Lupin Share price has risen more than 120% in a year.
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The North American sales for Lupin in FY24 at ₹7246 crore contributing 37% to overall revenues grew strong 33.8% year-on-year. The domestic sales for Lupin at ₹6656.4 Crore contributing slightly more than a third to overall revenues supported well growing 9.6% year-on-year.
The US saes outlook is keeping analysts positive on Lupin's prospects. Lupin filed 1 ANDA in the quarter, received 12 ANDA approvals from the U.S. FDA, and launched 6 products in the quarter in the U.S. The Company now has 161 generic products in the U.S.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions
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ABOUT THE AUTHOR Ujjval Jauhari Ujjval Jauhari is a deputy editor at Mint, with over a decade of experience in newspapers and digital news platforms. He is skilled in storytelling, reporting, analysing and writing about stocks, investment ideas, markets, corporates and more. He is based in New Delhi. Read more from this author
