Lupin shares drop 3% after Q3 results
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Shares of Lupin Ltd fell as much as 2.8% on Wednesday to Rs 2,008 on the BSE amid a broader market weakness despite posting a year-on-year profit increase for the third quarter ended December 2024. Lupin reported a profit after tax of Rs 8,589 crore for the December quarter, marking a 38.8% increase from Rs 6,187 crore a year earlier. Total revenue from operations surged 102.7% in the third quarter to Rs 57,677 crore, reflecting strong demand across key markets. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) rose 25.1% in the December quarter to Rs 14,096 crore, with EBITDA margins inching up to 21.1% from 21% a year ago. The stock, which closed 4.68% lower in the previous session at Rs 2,067.95, has gained 29.7% over the past year but remains under pressure in recent weeks. It has fallen 3.6% over the last five trading sessions and is down 3.7% over the past six months. The company’s balance sheet di...