Lupin Q4 cons net profit declines 31% as tax expenses rise

Pharma company Lupin 's fourth quarter consolidated net profit declined 31% year-on-year to Rs 156 crore due to higher tax expenses.

Net sales for Jan-March were up 25% to Rs 1,883.2 crore.

During the quarter, Lupin's tax expenses rose four-fold to near Rs 135 crore, which included Rs 13.3 crore tax due to unrealised gain on inventories in foreign subsidiaries.

Its other income in the quarter also halved to Rs 8.24 crore.

Lupin's profit before exceptional items, other income and finance costs rose 20% from a year ago to Rs 302 crore.

Lupin shares tumbled 4.3% at Rs 522.15 on NSE as the results disappointed investors.

Source: www.moneycontrol.com

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