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Lupin cracks as FDA overhang continues

Discussion in 'Stock Market Discussions' started by capitalstars05, May 20, 2016.

  1. capitalstars05

    capitalstars05 New Member

    Sep 26, 2014
    Likes Received:
    Shares of Lupin cracked 9% to Rs1505 on NSE despite strong outlook as the FDA overhang continues; retain Hold with PT revised to Rs1,850
    Strong operating performance:
    For Q4FY2016, Lupin’s sales grew by 35.8% to Rs4,181.2 crore; operating profit improved by 73.2% to Rs1,367.4 crore and profit grew of 47.5% to Rs807 crore.
    The strong set of numbers was aided by two months’ exclusivity sales from gGlumetza coupled with price hikes in Fortamet.
    Profit was affected (compared with growth in operating profit) due to higher tax rate of 33.6% in Q4FY2016 against 19.5% in Q4FY2015. Also, the interest cost has gone up due to increase in debt (taken for funding Gavis acquisition).

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