Lupin reported a consolidated net loss of Rs 127.1 crore in the quarter-ended September as against a profit of Rs 266 crore in the same period last fiscal and Rs 303 crore in Q1 FY20.
Shares of Lupin was trading lower by over 3 percent intraday on November 7 after brokerage house CLSA maintained sell call on the stock and has cut target to Rs 650 from Rs 660 per share.
The research firm is of the view that Solosec ramp-up remains weak and US generic launch pipeline remains thin adding that building in Rs 540 crore provision has led to cut FY20 EPS by 36 percent. The firm has also cut FY21-22 EPS estimates by 5-6 percent.
Any slip in Solosec/Levothyroxine could pose a downside risk to earnings, it added.
Lupin reported a consolidated net loss of Rs 127.1 crore in the quarter-ended September as against a profit of Rs 266 crore in the same period last fiscal and Rs 303 crore in Q1 FY20. The pharma company posted a one-time loss of Rs 546.5 crore. However, profit before one-time loss stood at Rs 457.3 crore.
Other income stood at Rs 133.3 crore versus Rs 230.7 crore YoY.At 0940 hrs, Lupin was quoting at Rs 744.00, down Rs 28.15, or 3.65 percent. It has touched an intraday high of Rs 754.05 and an intraday low of Rs 738.60.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.