Lupin share price drops 5% post Q4 earnings
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Shares of Lupin fell 5% to Rs 1,598.3 in Tuesday's trade on BSE despite the pharma firm reported a 52% year-on-year (YoY) growth in its consolidated net profit at Rs 368 crore for the quarter ended March 2024. The same stood at Rs 242 crore in the last year quarter. Its revenue from operations in the same period jumped 12% YoY to Rs 4,961 crore as against Rs 4430 crore in the corresponding period of last year. EBITDA for the reporting quarter rose by a robust 67% YoY to Rs 1,026 crore. It was Rs 615 crore a year ago. EBITDA margins, meanwhile, expanded 680 basis points compared with the year-ago period to 21%. Following the Q4 results, global brokerage firm JPMorgan maintained a 'Neutral' rating on Lupin with a target price of Rs 1550. "The Q4 was broadly in line with estimates and margins were ahead of expectations. The key positives are margin improvement, continued strength in EMEA, and reduction in net debt," JPM...