Lupin Q1 profit falls 43% to Rs 203 cr

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Mumbai, Aug 8 (IANS) Pharma major Lupin Limited on Wednesday reported a 43.4 per cent fall in its consolidated net profit at Rs 202.8 crore for the quarter ended June 30.

The consolidated net profit in the April-June quarter of last fiscal was Rs 358.1 crore, the company said in a statement.

Total sales slipped to Rs 3,774.6 crore in the first quarter this fiscal from Rs 3,806.8 crore in the corresponding quarter of previous fiscal.

“The first quarter of FY2019 has been subdued, primarily on account of the US and Japan,” Lupin Limited Managing Director Nilesh Gupta said.

Lupin’s North America sales, which account for 31 per cent of its global sales, fell 26 per cent year-on-year to Rs 1,185.8 crore for the June quarter from Rs 1,601.8 crore in the year-ago quarter.

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Lupin’s Japan sales fell more than five per cent year-on-year to JPY 8,129 million in the April-June quarter this year, the statement said.



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