High raw material costs dragged Lupin s Q4 net profit to below the Street s estimate, however, the sharp margin improvement provided much cushion to investor sentiment.
Lupin reported a 52% YoY growth in net profit to Rs 368 crore for March 2024 quarter. Revenue increased by 12% to Rs 4,961 crore. The company declared a dividend of Rs 8 per share.
The company s total income from operations however declined to Rs 3,783 crore during the fourth quarter, as compared to Rs 3,846 crore in the corresponding period of FY20, Lupin Ltd said in a statement.