Lupin 3QFY2016 Results: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking) on Lupin 3QFY2016 Results:

"Lupin, posted results more or less in line with expectation barring the other income, which aided the net profit come in higher than expectations. For 3QFY2016, the company posted sales of INR 3358cr V/s INR 3400cr expected a YoY growth of 6.8%. The Key geographies like US- (INR 1405cr) posted a flat growth, India (INR 871.2cr) a YoY growth of 17.1%, Japan (INR 373.9cr) posted a 9.2% YoY growth and ROW (INR 225.9cr) posted an 18.1% YoY growth. On the operating front, the OPM's came in at 20.2% V/s 20.5% expected V/s 27.0% in 3QFY2015. The R&D expenditure during the quarter was 11.7% of sales V/s 8.3% in 3QFY2015. The, net profit came in at INR 529.1cr V/s INR 469cr expected and V/s INR 602cr in 3QFY2015, a YoY dip of 12.0%. This was on back of other income which came in at INR 263cr V/s INR 116.1cr in 3QFY2015. Overall, we are NEUTRAL on the stock."

Shares of LUPIN LTD. was last trading in BSE at Rs.1801.45 as compared to the previous close of Rs. 1652.1. The total number of shares traded during the day was 433047 in over 27094 trades.

The stock hit an intraday high of Rs. 1829.85 and intraday low of 1603.2. The net turnover during the day was Rs. 753429205.

Source : Equity Bulls

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