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    Published On : Thu, May 19th, 2016
    Business News | By Nagpur Today Nagpur News

    Lupin Q4 net surges 47.54% to Rs 807 crore

    Lupin
    New Delhi/Nagpur:
    Lupin rose 1.69% to Rs 1,660 at 14:33 IST on BSE after consolidated net profit rose 47.54% to Rs 807.08 crore on 35.83% growth in net total income from operations to Rs 4181.16 crore in Q4 March 2016 over Q4 March 2015.

    The result was announced during market hours today, 19 May 2016.

    Meanwhile, the S&P BSE Sensex was down 240.80 points or 0.94% at 25,463.81.

    On BSE, so far 2.56 lakh shares were traded in the counter as against average daily volume of 3.41 lakh shares in the past one quarter. The stock was volatile. The stock surged as much as 3.4% at the day’s high of Rs 1,688 so far during the day. The stock rose 0.3% at the day’s low of Rs 1,637.45 so far during the day. The stock had hit a record high of Rs 2,127 on 6 October 2015. The stock had hit a 52-week low of Rs 1,294.05 on 29 March 2016. The stock had outperformed the market over the past one month till 18 May 2016, gaining 3.9% compared with Sensex’s 0.43% fall. The scrip had, however, underperformed the market in past one quarter, declining 8.14% as against Sensex’s 8.69% rise.

    The large-cap company has equity capital of Rs 90.14 crore. Face value per share is Rs 2.

    On 23 July 2015, Lupin had announced the acquisition of GAVIS Pharmaceuticals LLC, USA, Novel Laboratories, Inc., USA and VGS Holdings, Inc., USA (GAVIS). On 8 March 2016, Lupin Inc., USA and Lupin Atlantis Holdings SA, Switzerland, wholly owned subsidiaries of the company completed the acquisition of GAVIS. Consequently, effective 8 March 2016, GAVIS forms part of the consolidated financial results. In this acquisition, inter-alia, Lupin has acquired net assets of Rs 4638.79 crore (including intangible assets of Rs 4563.05 crore) and this has resulted in a goodwill on acquisition of Rs 902.82 crore in the consolidated financial statements. The acquisition is mainly financed through borrowings. Accordingly, the current period figures are not strictly comparable with corresponding previous period, Lupin said.

    Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB and cephalosporin segment.

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