Lupin's share price plunged by nearly 4 per cent on Tuesday after the company announced its Q4FY24 results. The Indian multinational Pharmaceutical company witnessed an increase of 52 per cent in its net profit to Rs 359 crore from Rs 236 crore recorded in the corresponding quarter of the previous year.
Total revenue from operations rose to Rs 4,961 crore in the period under review as compared with Rs 4,430 crore in the same period last fiscal, Lupin said in a regulatory filing.
At 9:30 am the shares of the company were trading at Rs 1,629 price level, down by 2.98 per cent on the National Stock Exchange.
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Revenue from operations rose to Rs 20,011 crore in the last fiscal as against Rs 16,642 crore in the 2022-23 fiscal.
"We continue to move forward with sustainable and profitable growth and delivered another strong set of numbers in Q4. Our US sales remain healthy driven by inhalation products, and our India formulation business is delivering ahead of the market," Lupin Managing Director Nilesh Gupta said.
While FY24 has been a year of resurgence for the company, the drugmaker looks forward to an even stronger FY25 driven by growth across key geographies and consistent improvement in margins, he added.
The company said its board approved a final dividend of Rs 8 per share of the face value of Rs 2 each for the year ended March 31, 2024.
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On an annual basis, the shares of the drugmaker have delivered a return of more than 122 per cent on the NSE.
(With Inputs From PTI)
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