Lupin Q3 net profit rises 21% to Rs 633 crore on strong US sales
India’s third largest drug maker by sales Lupin on Thursday posted a 21 percent increase in its net profit to Rs 633 crore for the third quarter ended December beating analyst estimates on back of strong US generic sales. The company posted Rs 524.6 crore in the same period previous year. Revenues rose by 26 percent to Rs 4483 crore.
The EBITDA margin of the company stood at 27.1 percent versus analyst estimate of 23.9 percent. US sales grew 53.4 percent at USD 316 million on year-on-year basis. India formulation sales grew 11.9 percent to Rs.991.2 crore. Asia-Pacific sales grew 20.9 percent at Rs.560. EMEA sales increased 16.8 percent to Rs 255.5 crore.
Technical Levels for Bank of Lupin
Support at 1480 and Resistance at 1530
Looks positive and could touch its resistance level of 1530, further upside rally will see on close above 1530 else could touch its support level of 1480
Looks weak only below 1480
More will update soon!!
